A tranche of £5m has been made available to fund standard and light refurbishment bridging for properties valued up to £1m for loans from £150,000 for regulated and unregulated business.
Alan Cleary, managing director of Precise Mortgages, said: "This product should be excellent for borrowers who want to keep upfront costs to a minimum and Positive Lending with their extensive broker connections are perfectly placed to distribute this product."
Chris Fairfax, managing director of Positive, said: “The combination of the high loan to value, the competitive interest rate and additional incentives will make this product very popular.”
