The products are available to all registered brokers and the lender’s premier panel of packagers and have rates starting from as little as 0.65% per month.
Alan Cleary, managing director of Precise Mortgages, said: “These are the best bridging rates in the market and represent excellent value for borrowers, brokers and packagers.”
Chris Fairfax, managing director of Positive Lending, added: “Conversion for Bridging cases will undoubtedly increase due to these changes as the disparity in pricing between conventional mortgages and short-term lending reduces. The improvements show Precise Mortgages are committed to maintaining their reputation as market leaders in bridging.”
• All standard and light refurbishment rates have been cut.
• Minimum loan £250,000.
• Maximum £1m.
• Available until end of December.
• Some rates cut by as much as 0.30% per month.
• Standard procuration fees apply.