Exclusive: Precise to relaunch refurb range

Exclusive: Precise to relaunch refurb range



B&C can exclusively reveal that Precise Mortgages is planning to relaunch its light and heavy Refurbishment bridging products .


 B&C can exclusively reveal that Precise Mortgages is planning to relaunch its light and heavy Refurbishment bridging products.

Precise Mortgages is creating a more simplified definition for its Light and Heavy Refurbishment range, in order to both increase accessibility and prevent any possible confusion from brokers. 

Managing Director of Precise Mortgages, Alan Cleary said: “We are planning to create a more simplified definition for our heavy refurbishment bridging product so the brokers can easily understand whether their application is a light or heavy refurbishment.”

The lender will be providing the full definition and respective rates to the product early this week. 

As well as the simplified definition, Precise Mortgages is planning to increase the maximum loan for their Heavy Refurbishment bridging product from 60 per cent to 70 per cent LTV.

The types of heavy refurbishment the product offers loans for include commercial to residential, basement digs, loft conversions and multiple houses made into one dwelling.

Last month, B&C reported that Precise Mortgages slashed the rates on its Heavy Refurbishment range by up to 32 per cent. 

At the time, Alan Cleary said: “We are leaders in the regulated and light refurbishment bridging areas and have made these enhancements today to ensure that we continue to be the first choice for mortgage brokers when they also require heavy refurbishment bridging finance.” 

“Making it better for our brokers, better for our borrowers an there’s also no change to broker proc fees.”



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