The move brings the number of networks with Precise as their preferred bridger to nine, a list that includes five of the country’s top ten biggest networks.
First Complete and Intrinsic will use the deal to help educate both their appointed representatives and directly authorised brokers on the best uses of bridging finance for their customers.
This announcement means that approximately 3800 AR firms and the entire DA market now have access to bridging products offered by Precise Mortgages.
The firm recently teamed up with the National Association of Commercial Finance Brokers to offer an enhanced procuration fee to its members with Precise now calling on other bridging lenders to quote Annual Percentage Rates on all bridging deals whether the deal is regulated or not.
Alan Cleary, managing director of Precise Mortgages, said: “Borrowers who use bridging finance should have the right to expect a high level of transparency on fees and interest charges as well as general fair treatment.
“Precise Mortgages has a principle to treat all types of lending secured on residential property in a manner consistent with the spirit of FSA regulation.”
