Kensington and Precise eye up bridging sector

Kensington and Precise Mortgages are believed to be looking to enter the bridging sector in 2011.

Kensington recently revealed ambitions to broaden its product range after boosting its buy-to-let presence while Precise Mortgages says bridging is one of the sectors on its radar.

Alan Cleary, managing director of Precise Mortgages, says the lender is researching the sector.

He says: “We are looking at a number of sectors, including the secured loan market, first-time buyer and bridging market, but nothing has been decided yet.”

A spokesman for Kensington says: “As with every forward thinking business we look at different sectors and there are a number we are looking at presently.”