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Precise and Brightstar agree £5m of bridging loans in a day

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  • 16/05/2013
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Precise and Brightstar agree £5m of bridging loans in a day
Brightstar Financial and Precise Mortgages agreed nearly £5m of bridging deals in a single day as the two firms decided to work from the same location.

Staff from Precise spent all day Monday at Brightstar’s offices to allow introducers to discuss cases directly with underwriters from the lender.

This is the third time the Brightstar has invited a lender to spend the day at its office in Brentwood, Essex. The firm said that it was looking for brokers and lenders to have a better understanding of the issues in the market.

Brightstar director Kit Thompson said: “We thought the idea of a day dedicated to one lender would help brokers to get closer to decision makers and for lenders to better understand the issues faced by intermediaries.

“Our experience of now having run three of these events is that brokers and lenders really enjoy the experience. Having a lender here in our offices for a day fosters great relationships.

“Precise Mortgages’ people have been brilliant and I know that we fielded a lot of enquiries and generated over £4.8m of in principle bridging business. We shall be definitely running more lender days this year.”

Gareth Lewis, head of sales at Precise Mortgages, added: “This proved to be a really good day for us.

“A lot of good enquiries came out of this along with the strong sense of developing a shared commitment with Brightstar to further improving our service to meet the needs of introducers.”

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