Precise Mortgages

Precise does not publish a maximum loan size on its bridging products. The minimum loan size is £50,000. For loans up to £2.5 million, the maximum LTV is 75% on standard and light refurbishment products. For loans above £2.5 million, the maximum LTV reduces to 65%. The actual amount available depends on the property valuation, the LTV, and the strength of the exit strategy.

This uncapped structure is unusual in the bridging market, where most lenders set a maximum at £5 million or £15 million. It means Precise can potentially fund larger transactions where the property value and exit strategy support it. A broker can confirm realistic borrowing expectations for a specific case before any formal application is submitted. The bridging loan calculator can help model different scenarios.

No. Precise does not charge an exit fee and does not apply early repayment charges on any of its bridging products. The only requirement is that a minimum of one month's interest must be paid. Beyond that, the borrower can repay the loan at any point during the term without penalty. This is a clean exit structure compared to some bridging lenders that charge exit fees of 1% to 2% of the loan amount.

The fees that do apply are an assessment fee of £145 (which can be deducted from the advance on completion), a telegraphic transfer fee of £25, and a redemption administration fee of £21. Valuation fees are also payable, though fee-free AVMs are available on standard bridging products where the property qualifies. The guide to bridging loan fees explains every cost type and when it is typically paid.

Light refurbishment covers works that do not require structural changes or planning permission. Precise includes new kitchens and bathrooms, internal redecoration, flooring, rear and side extensions, HMO conversions, and multi-unit properties at wind and watertight stage that require completion. Light refurb is available up to 75% LTV with 100% of works funded. The property is valued at its current market value.

Heavy refurbishment covers structural changes that typically require planning consent or building approval. Precise includes extensions, loft conversions, single unit to multi-unit conversions, commercial to residential conversions (up to 10 units), and HMO conversions up to 20 lettable rooms. Heavy refurb is available up to 70% LTV with 100% of works funded through staged drawdowns. Each drawdown is verified by a monitoring surveyor before the next tranche is released. The guide to development and refurbishment bridging covers both structures in detail.

Precise publishes average processing times on its intermediary portal. The current published figures show an average of 16 working days from application to offer, with post-offer completion averaging 2.5 working days. 81% of valuations are completed within 10 working days across all product types. These are averages, not guaranteed timescales, and individual cases will vary depending on complexity.

The use of fee-free AVMs on standard bridging can significantly reduce the timeline by removing the need for a physical valuation. Digital document submission, app-based case tracking, and the streamlined DIP process also contribute to faster processing on straightforward cases. More complex cases involving heavy refurbishment, multiple securities, or high-value properties requiring a full valuation will take longer. The guide to the real-world bridging timeline covers typical sequencing.

Yes. Auction purchases are one of the core use cases for Precise's standard bridging product. When you purchase a property at auction, you typically have 28 days to complete the transaction. Precise's standard bridging product can fund these purchases, with fee-free AVMs available where the property qualifies, which removes a step that often causes delays on tight timelines.

Ideally, the broker should submit a decision in principle before the auction takes place so that the case is already assessed and the only remaining steps are the valuation and legal work. A clear exit strategy, whether that is a property sale after works, a refinance onto a term mortgage, or an onward sale, must be in place. The guide to auction bridging finance covers the 28-day process step by step.

Developer exit finance is a bridging product designed specifically for residential developments that have reached practical completion but where the units have not yet been sold or long-term finance has not yet been arranged. Precise offers this for 1 to 6 units at up to 75% LTV, and for 7 or more units at up to 65% LTV. There is no maximum unit limit on the 7+ unit product. Where units average £750,000 or above, the maximum LTV is 65% regardless of unit count.

This product is relevant for developers whose existing development finance facility is approaching its end date, where the sales period has been slower than expected, or where the developer wants to release capital from a completed project to move on to the next one. Experienced developers only. The development must have reached practical completion with the benefit of all consents and a warranty or professional consultant certificate.

No. Precise Mortgages operates exclusively through the intermediary channel. All bridging applications must be submitted by a registered broker or through one of Precise's approved packagers. Borrowers cannot apply directly. This is the standard model across most specialist bridging lenders, where the broker's role is to assess the case, match it to the right product, and prepare the application to the lender's requirements.

Checking eligibility through Squared Money connects you with a specialist bridging broker who has access to Precise's products alongside those of other lenders on their panel. The broker can confirm whether a Precise product is the right fit for your case or whether another lender offers more suitable terms.

Yes. Precise Mortgages is a trading name of Charter Court Financial Services Limited, which is authorised by the Prudential Regulation Authority and regulated by both the PRA and the Financial Conduct Authority (FCA reference 494549). Charter Court Financial Services is part of OSB Group PLC, a specialist lending and retail savings group listed on the London Stock Exchange.

Regulated bridging products, which cover properties the borrower or their family will occupy as a main home, carry FCA consumer protections including mandatory affordability assessments, standardised disclosure, and the right to complain to the Financial Ombudsman Service. Unregulated bridging products, covering investment and commercial property, are not subject to the same FCA conduct rules but the lender remains subject to PRA regulation and general commercial law.