Precise Mortgages has amended its bridging finance range.
The alterations include increasing its maximum LTV to 65% and upping its maximum loan size to £1m, across both regulated and none-regulated applications.
Furthermore, the lender will now offer a choice of standard and light refurbishment products; an expanded variety of property types that will be accepted, such as HMOs and new builds, and rates from 0.49% per month.
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According to Precise Mortgages, it has amended its bridging finance range in order to assist brokers in placing more of their customers’ cases.
Jo Breeden, managing director at Crystal Specialist Finance, said: “It is great that Precise Mortgages has increased LTVs.
“The market needs Precise Mortgages with their excellent service proposition, and this is a nod to the further confidence investors, brokers and lenders have in Bridging as a viable solution for both the regulated and non-regulated market.”
Adrian Moloney, group sales director at OneSavings Bank, added: “In the current climate it is essential that brokers can continue to help as many of their customers as possible.
“Our bigger and better Bridging Finance range, which is backed up by quick decisions, joint legal representation and dedicated underwriter support, offers innovative short-term finance solutions for customers who need to secure a deal on a fast turnaround.”