Deals are available up to 70% loan to value (LTV) and no there is no maximum loan amount cap.
Borrowers will benefit from all features offered on the lender’s standard bridging range but with the ability to release further funds from a property without disturbing an existing rate.
Alan Kimber, head of bridging at Precise, said: “Our in-house expertise is already helping large numbers of brokers whose customers need flexible short-term finance, so expanding our offering with second charge bridging feels like a natural progression.
“These new options allow homeowners to unlock capital without disturbing their existing mortgage, helping them avoid early repayment charges and retain preferential rates.
“Providing this product range gives brokers and their borrowers confidence they are dealing with a lender that can support their full range of funding needs.”
Renters’ Rights Act: what landlords may be getting wrong
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Earlier this month, Precise launched free valuations on standard properties across its residential range.
