Enhanced AVM policies speed up deal, allowing lender to offer funding swiftly

Specialist lender Precise, part of OSB Group, has finalised a bridging loan in just seven working days, enabling the construction of a new family annexe attached to an existing residential property.
The case was introduced by distribution partner Positive Lending, which was assisting an older couple seeking short-term finance to build an annexe at their daughter’s home. The couple secured the loan against their current property, which is expected to be sold once the annexe is ready for them to occupy.
The transaction was completed quickly, partly due to recent policy updates around automated valuation models (AVMs) that has allowed Precise to offer funding on its standard rate within a single day. A long-standing collaboration with panel firm JMW Solicitors enabled joint legal representation, helping to streamline the process, even during a bank holiday period.
According to government data, there are around 60,000 annexes across England and Wales. As the ageing population continues to grow, demand for multi-generational living arrangements could drive further interest in short-term finance options such as bridging loans. Families often explore this type of arrangement for practical support like childcare or to manage inheritance planning.
“It’s important to showcase the range of ways that bridging could be the ideal funding solution,” said Alan Kimber (pictured), head of bridging at Precise. “This case is a shining example of how it can be used to help solve a family dilemma where time was of the essence.
“Ross Williams and the Precise bridging team used their expertise, market knowledge and strong working relationships to really pull this case out of the bag, all completed within seven working days, which shows great teamwork from everyone involved.”
“The teams at Precise and JMW Solicitors acted with the required speed to release funds for our clients to complete their renovation works as traditional borrowing wasn’t possible due to their circumstances,” added David Hounsell, senior specialist lending manager at Positive Lending.
“Although this wasn’t a large bridge, the timing was absolutely crucial, and that’s where the AVM process and joint legal representation alongside the expertise from Precise really made a difference with a fantastic customer outcome.”
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