Positive Lending has been chosen to distribute Precise Mortgages’ bridging exclusive.
A tranche of £5 million has been made available to fund standard and light refurbishment bridging at 1% per month at a maximum LTV of 75%.
Details are as follows:
- Available at all LTVs in both Standard and Light Refurbishment
- 1.00% per month.
- Loans from £150,000.
- Standard facility fee – 2%.
- Standard proc fees – max 2.25%.
- Free valuation up to £630 max
- Available to FSA Regulated and Non-FSA Regulated loans.
- Maximum tranche £5m.
- Minimum term three months managed by underwriting.
- Precise mortgages will bridge a bridge
Chris Fairfax, managing director, of the Bournemouth-based specialist packager, said, “The combination of high LTV, competitive interest and additional incentives, namely a free valuation, will make this product very popular.”
Alan Cleary of Precise Mortgages added” “This product should be excellent for borrowers who want to keep up front costs to a minimum and Positive Lending with their extensive broker connections are perfectly placed to distribute this product.”