New updates promise to make property financing more efficient
Precise, part of OSB Group, has announced enhancements to its bridging finance offering by upgrading its policy on automated valuation models (AVMs). The move is aimed at streamlining application processes for brokers, reducing delays, and facilitating faster deal completions.
The latest upgrades expand AVM usage across more cases, including:
- Increased loan-to-value (LTV) up to 75%, allowing more borrowers to qualify.
- Inclusion of properties valued up to £1.5 million, covering 99% of the market.
- Approval of AVMs for light refurbishment projects.
The company stated that these enhancements build on Precise’s bridging range, initially launched in January 2025, which features competitive rates from 0.62% per month, no exit fees, and no early repayment charges.
Alan Kimber, head of bridging at Precise, emphasised the importance of these changes in meeting market needs. “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,” Kimber said.
“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.”
According to the latest Bridging Trends report, chain breaks accounted for 20% of bridging loan usage in 2024, while auction purchases increased to 11%. Additionally, average completion times for bridging loans dropped by 23%, indicating a shift toward more efficient lending practices.
“The 2024 Bridging Trends data paints a picture of a robust, resilient market that continues to adapt and thrive despite external pressures,” said Raphael Benggio, head of lending – bridging finance at MT Finance. “With faster completion times and steady lending volumes, these results, show how bridging finance has evolved from an alternative solution to an essential component of the UK property finance landscape.”
How do you foresee AVMs shaping the future of bridging finance? Share your thoughts in the comments below.
