May 2019
By Roger Morris, Director of Sales at Precise
As the UK’s leading specialist lender*, we’re always looking for ways to make things as easy as possible for customers to get the product they want. Take the joint legal representation we offer on our Bridging Finance, for example.
Joint representation is common practice in long-term residential lending, but the Bridging market has traditionally insisted on sole legal representation.
The benefits of joint legal representation are twofold.
Brokers sending us a case have a choice of how they submit it - either directly or, if they need a little more help, via our Premier Panel.
We only use solicitors who understand the speed and service requirements of Bridging Finance and the panel we use are some of the most experienced conveyancers in the UK, with the expertise to act for both the borrower and us as the lender.
It’s all part of an award-winning package which has led to us being recognised as the specialist lender brokers are most likely to recommend for Bridging Finance*.
As well as joint legal representation to speed up applications, we also offer automated valuation from just £99 on standard Bridging cases.
We’ve increased the maximum loan to value to 75% for both regulated and unregulated cases on our Standard and Light Refurbishment schemes. We accept building regulations on light refurbishment projects, including properties that are deemed uninhabitable by long-term lenders, require internal refurbishment or are at the ‘wind and water tight’ stage, but require completion.
Our latest innovation, Refurbishment Buy to Let, is designed to help landlords maximise rental yields by refurbishing a property before they rent it out. This proposition brings together the flexibility of Bridging Finance with the peace of mind of an exit onto a long-term Buy to Let Mortgage once the refurbishment works have been completed.
To find out more about how joint representation can help your customer, visit www.precisemortgages.co.uk, speak with our Sales Team or call our dedicated support team on 0800 116 4385.