Positive Lending has been able to provide its first ‘same day’ bridging offer by using Precise Mortgage’s new Automated Valuation (AVM) process.
Positive’s application was the first to use Precise’s new “instant AVM”.
Chris Fairfax, managing director at Positive Lending, said: “At Positive we seek to continuously improve the support we offer intermediaries and their clients by offering wider product choice, keener pricing or quicker service. Precise Mortgage’s new bridging loan AVM totally aligns with our added value proposition, it provides both cost and time savings for borrowers.
“In this case, we received an instant AVM and lending decision from Precise, which allowed us to provide our first ‘same day’ bridging offer – before today, this would have been unheard of.
“It’s vital that we continue to find ways to improve customer outcomes and support lenders who do the same; that why we applaud Precise for this initiative.”
Alan Cleary, managing director at Precise Mortgages, added: “We work closely with the team at Positive Lending and I wasn’t surprised to discover they were the first intermediary to utilise our new bridging AVM.
“We briefed Positive’s specialist bridging team on our new process and they quickly submitted a suitable bridging loan application. Like us, they understand that brokers and borrowers will select loan options that offer a quick response and good value; by partnering with Positive, we are able to offer just that.”