Precise, part of OSB Group, has enhanced its policy around automated valuation models (AVMs) to help brokers speed up their bridging caseloads.
As part of the changes, the lender will now allow AVMs up to 75% LTV, so more cases qualify.
In addition, they can be used for properties up to £1.5m, which Precise says covers 99% of properties.
AVMs are also now permitted for light refurbishment.
These new upgrades enhance the existing bridging range which launched in January 2025 and feature rates from 0.62% per month with no maximum loan size, no exit fee and no early repayment charges.
Alan Kimber (pictured), head of bridging at Precise, said: “With chain breaks still being the most common use for bridging in 2024 according to the latest Bridging Trends data, closely followed by investment purchases, our service enhancements certainly align with the market demands for swift and agile solutions.
“Following our successful bridging launch in January, we’ve continued to work closely with our broker partners and we’re confident that these upgrades will help streamline the bridging process allowing smoother customer journeys.”
