Bridging with momentum.
What's New
- Limited edition rates from 5.79% with no product fees
- Competitive pricing for adverse customers on products from 85% LTV
- Revert rates reduced by up to 2%
- Available at 85% LTV on Tiers 0-4 and 80% LTV for Tier 5
What's New
- Core and limited company available on Tiers 1-3 with rates from 3.99% plus a 5% fee
- HMO Tier 1 and Tier 2 rates from 4.14% plus a 5% fee
- No restriction on loan size
- Up to 75% LTV
What's New
- Standard rates from 5.64%
- EPC C+ refurbishment rates from 5.44%
What's New
- Tier 1 and Tier 2 75% LTV with rates from 0.74%
- No maximum loan amount, no limit on number of units and no maximum value per unit
What's New
- Rates from 4.29%
- 1-year fixed rates reduced by up to 0.45%
- Reduction of 0.35% across the rest of the range
- Rates from 0.69%
- Up to 75% LTV
- AVMs available up to 60% LTV, and with no fee
- Regulated and non-regulated
- No maximum loan amount
- Landlords who want to make a quick purchase
- Chain-break finance
- Cash flow funding for short term requirements
- Buying property at auction
- Meeting tight transaction deadlines
- Where short-term finance is required and is secured on a property in a habitable condition and does not require any improvement works
- Regulated Bridging Finance can be used for almost any purpose, except where your customer is looking to raise finance by way of a second charge and the loan is for business use. For this situation our range of Non-Regulated Bridging Finance could help
- Rates from 0.74%
- Up to 70% LTV
- Regulated and non-regulated
- No maximum loan amount
- Extensions
- Loft conversions
- Single unit to multi-unit
- Multi-unit to single unit
- Multi-unit properties currently at 'wind and water tight' stage that require completion
- Barn conversions
- Conversion of a commercial unit into a maximum of 4 flats
- Landlords looking to change the use of a residential property to a HMO with up to 10 lettable rooms
- Landlords looking to change the use of a residential property to a maximum of 6 flats. An acceptable new home warranty will be required
- Planning permission is required
- Works are being completed under Permitted Development Rights (change to property footprint)
- There is a change in overall use or nature of the premises
- Regulated Bridging Finance can be used for almost any purpose, except where your customer is looking to raise finance by way of a second charge and the loan is for business use. For this situation our range of Non-Regulated Bridging Finance could help
- Tier 1 products up to 60% LTV gross
- Tier 2 products up to 75% LTV gross
- Regulated and non-regulated
- Up to a maximum of 6 units on Tier 1 products. No maximum on Tier 2 products
- No maximum value per unit
- Experienced developers with a residential property that has reached practical completion, with the benefit of all consents and a warranty or PCC
- Property developers who need more time to sell properties or organise long-term finance
- House builders who want to refinance their existing development facility to extend the sales period and/or save money
- Developers who want to release capital to move on to another project
- If there are delays in the sale completion or in securing long-term finance
- If a project overruns and funding can’t be extended
- When development project costs have exceeded budget
- To release additional capital from a completed project
- For individual units or a large development of 100s of units – there are no limits on this product
Ready to submit a bridging case? Once you're registered complete our DIP form and send it to [email protected].
We’ll then send a DIP approval showing the information we need provided, and confirm the monthly rate and your procuration fee. If it’s standard bridging, we’ll also confirm if it qualifies for an online valuation (AVM).
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When completing Bridging Finance, both Precise and your customer will need a conveyancer to complete the necessary legal work associated with the transaction.
There are two conveyancing options available for your customers, which are detailed below.
1. Joint Representation - Preferred Bridging Conveyancer Panel
We work with conveyancers who have a thorough understanding of the speed and service requirements for Bridging Finance transactions.
To proceed with joint representation your customer should select one of the firms below. We will instruct this firm to act on behalf of Precise and they will also act for your customer.
| England and Wales | |||
|---|---|---|---|
| Blacks Solicitors LLP | 0113 207 0000 | www.lawblacks.com | City Point, 29 King Street, Leeds, LS1 2HL |
| BTMK Solicitors Ltd | 0170 234 6677 | www.btmk.co.uk | 100 Alexandra Road, Southend on Sea, Essex SS1 1HQ |
| Gordons Property Lawyers | 0162 830 8380 | www.gplawyers.co.uk | SC House, Vanwall Road, Maidenhead, Berkshire, SL6 4UB |
| JMW | 0345 872 6666 | www.jmw.co.uk | 1 Byrom Place, Manchester, M3 3HG |
| Lightfoots | 0184 421 2305 | www.lightfoots.co.uk | 1-3 High Street, Thame, OX9 2BX |
| TLT LLP | 0333 006 0700 | www.tlt.com | 3 Hardman Square, Manchester, M3 3EB |
| Walker Morris LLP | 0113 283 2500 | www.walkermorris.co.uk | 33 Wellington Street, Leeds, LS1 4DL |
If your customer does not wish to instruct a covenyancer from our panel, they are under no obligation to do so. We can proceed with separate representation, allowing your customer to select their choice of conveyancer.
| Scotland | |||
|---|---|---|---|
| Aberdein Considine | 0333 006 6113 | www.acandco.com | 5-7 Bon Accord Crescent, Aberdeen, AB11 6DN |
| McVey & Murricane Solicitors | 0141 333 9688 | www.mmilegal.com | Albert Chambers, 13 Bath Street, Glasgow, G2 1HY |
Important information
The borrower will be responsible for paying all the conveyancers fees, costs and disbursements including the fees of the conveyancer acting for us in connection with the Bridging Finance.
The borrower should obtain a detailed quotation from both the conveyancer acting for them, and any conveyancer acting for us if we instruct a different firm to act for us.
2. Separate Representation
For Scottish applications or if your customer has chosen a conveyancer that is not on our panel we will each be separately represented.
To select this option – simply complete the relevant sections of the application form and tell us who the conveyancer is that your customer has chosen and instruct them accordingly. Please confirm the member of the Preferred Conveyancer Panel that your customer has chosen to represent Precise.
| England and Wales | |||
|---|---|---|---|
| Blacks Solicitors LLP | 0113 207 0000 | www.lawblacks.com | City Point, 29 King Street, Leeds, LS1 2HL |
| BTMK Solicitors Ltd | 0170 234 6677 | www.btmk.co.uk | 100 Alexandra Road, Southend on Sea, Essex SS1 1HQ |
| Fieldfisher | 0330 460 7000 | www.fieldfisher.com | 17th Floor, No 1 Spinningfields, 1 Hardman Square, Manchester, M3 3EB |
| Gordons Property Lawyers | 0162 830 8380 | www.gplawyers.co.uk | SC House, Vanwall Road, Maidenhead, Berkshire, SL6 4UB |
| JMW | 0345 872 6666 | www.jmw.co.uk | 1 Byrom Place, Manchester, M3 3HG |
| Lightfoots | 0184 421 2305 | www.lightfoots.co.uk | 1-3 High Street, Thame, OX9 2BX |
| TLT LLP | 0333 006 0700 | www.tlt.com | 3 Hardman Square, Manchester, M3 3EB |
| Walker Morris LLP | 0113 283 2500 | www.walkermorris.co.uk | 33 Wellington Street, Leeds, LS1 4DL |
| Scotland | |||
|---|---|---|---|
| Aberdein Considine | 0333 006 6113 | www.acandco.com | 7 - 9 Bon Accord Crescent, Aberdeen, AB11 6DN |
| McVey & Murricane Solicitors | 0141 333 9688 | www.mmilegal.com | Albert Chambers, 13 Bath Street, Glasgow, G2 1HY |
Important information
The borrower will be responsible for paying all the conveyancers fees, costs and disbursements including the fees of the conveyancer acting for us in connection with the Bridging Finance.
The borrower should obtain a detailed quotation from both the conveyancer acting for them, and any conveyancer acting for us if we instruct a different firm to act for us.
Fees and charges
| Property value | Standard single dwellings |
HMO and multi-unit |
|---|---|---|
| Up to £100,000 | £265 | £500 |
| Up to £150,000 | £300 | £500 |
| Up to £200,000 | £335 | £515 |
| Up to £300,000 | £360 | £585 |
| Up to £400,000 | £385 | £645 |
| Up to £500,000 | £430 | £705 |
| Up to £600,000 | £480 | £770 |
| Up to £700,000 | £530 | £830 |
| Up to £800,000 | £585 | £940 |
| Up to £900,000 | £640 | £1,015 |
| Up to £1,000,000 | £735 | £1,085 |
We’ll instruct valuation in all instances. For applications on multiple single dwelling units, a standard valuation will be instructed for each unit.
All tier 2 finance valuations will be conducted on a bespoke basis. Contact us for further details.
Other fees
No exit fee
No early repayment charges
(a minimum of 1 months’ interest must be paid)
Telegraphic transfer fee: £25
Assessment fee: £145
Redemption administration fee: £40
All fees include VAT (where applicable).