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Precise completes 961 bridging AIPs in first six months of the year

Precise Mortgages has completed 961 bridging approvals in principle in the first six months of 2012.

The lender, which launched into the bridging market twelve months ago has been campaigning for transparency and ultimately Financial Services Authority regulation of the residential bridging market.

So far in 2012, the lender has received 961 AIPs, totalling £342,270,000 and 288 applications totalling £61,351,000.

Alan Cleary, managing director of Precise Mortgages, says: “We are happy with the take up of our bridging products and thank the brokers and distributors who have supported us; we always remember they have a choice and we strive to make our proposition market leading.”

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  • Doubting Thomas 28th June 2012 at 1:37 pm

    Thought they were going to publish their lending figures – applications are meaningless!

    For a whiter than white company that is totally transparent let’s see if their fall out rate is as low as the industry norm.