This recent announcement brings the total number of networks that have made Precise their preferred bridging lender to nine. Five of the networks are in the top 10 largest by ARs.
The partnership also opens Precise’s proposition to a total of 3,800 AR firms and the entire DA market.
The lender recently highlighted the significant saving its interest charging methods could make to individual borrowers and has been calling on other bridging lenders to quote Annual Percentage Rates on all bridging deals whether the deal was regulated or not.
Alan Cleary, managing director of Precise Mortgages, said: “Borrowers who use bridging finance should have the right to expect a high level of transparency on fees and interest charges as well as general fair treatment.
“Precise Mortgages has a principle to treat all types of lending secured on residential property in a manner consistent with the spirit of Financial Services Authority regulation.”
