Precise Mortgages is making £5m in bridging funding available through Brightstar Financial which allows brokers to finance existing bridges.
The minimum loan is £250,000 with a minimum term of three months and rates at 1 per cent a month. All LTVs are available and free valuations are offered on properties up to £600,000.
Brightstar director of bridging & commercial Kit Thompson says: “We are delighted to be asked to help in the distribution of this important new product. Not only is it well priced but also comes as a welcome shot in the arm for brokers. The product is particularly versatile, which will be welcome news as we know brokers will have clients who will be anxious about their existing short term funding.”
Precise mortgages sales director Roger Morris says: “We always aim to provide what the market needs and Brightstar Financial is well placed to help these funds reach the market quickly and efficiently.”