precise-launches-exit-product-slashes-rates

Precise has recently unveiled a new developer exit product as part of its bridging loan offerings, along with a reduction in rates across its bridging range by 7 basis points. Designed to assist customers who are selling properties, securing long-term financing, or releasing capital for new projects, this product aims to ease the transition during critical financial moments. As part of OSB Group, Precise also refreshed its lending criteria and expanded loan-to-value (LTV) bands, making their products more accessible to a wider audience. With bridging rates starting as low as 0.62% per month and LTV options ranging from 55% to 75%, there are numerous features designed to meet diverse needs in the market.

Introducing Precise's Developer Exit Product

The launch of the developer exit product signifies an important addition to Precise’s existing bridging loan portfolio. This innovative offering caters specifically to clients who find themselves in transitional phases—whether they are working on selling a property, arranging long-term financing solutions, or looking to unlock capital for new ventures. The goal is to provide flexible financial options that can adapt to changing circumstances without adding unnecessary stress.

Key Features of the New Product

The developer exit product comes packed with beneficial features that make it appealing for various borrowers:

• No Exit Fees or Early Repayment Charges: Customers can pay off their loans without incurring additional costs.

• Daily Interest Calculations: Borrowers only pay interest for the time they utilize the loan, ensuring cost-effectiveness.

• Non-Regulated Applications Accepted: Limited companies can apply for loans under non-regulated terms.

• Stage Payments Available: For both Tier 1 and Tier 2 refurbishment projects, stage payments ensure flexibility in funding large-scale renovations.

Diverse Bridging Options

The updated bridging range now includes a variety of options tailored to meet specific borrower needs:

• Standard Bridging Loans: Ideal for chain breaks and auction purchases.

• Tier 1 Refurbishment Loans: Perfect for cosmetic updates requiring minimal changes.

• Tier 2 Heavy Refurbishment Loans: Designed for significant renovations that involve altering the property's footprint.

This broad spectrum of products reflects Precise's commitment to providing solutions that cater effectively to both residential and commercial borrowing scenarios.

Updated Criteria and Loan-to-Value Bands

The recent modifications in lending criteria include expanded LTV bands aimed at enhancing accessibility. With bridging loans now available from 55% up to 75% LTV, borrowers have more room for maneuverability when it comes to financing their real estate projects. This change is particularly beneficial during times when liquidity may be tight or when quick access to funds is essential.

The Importance of Competitive Rates

A key feature of Precise’s offering is its competitive interest rates starting at just 0.62% per month. Lowering rates not only makes borrowing more feasible but also helps clients manage costs more effectively throughout their project timelines. In an environment where financial markets fluctuate frequently, such adjustments can significantly influence borrower decisions and overall satisfaction with lending services.

Acknowledging Market Pressures

Pushing these enhancements forward aligns with Alan Kimber’s emphasis on understanding market pressures faced by brokers and their clients today. He acknowledges that chain breaks can disrupt customers' plans significantly—potentially blocking them from securing desirable properties or forcing them into less favorable purchasing situations due to rising stamp duty charges. The introduction of these competitive rates alongside revised criteria underscores an effort by Precise not just to sell products but genuinely support brokers navigating challenging market conditions.

Catering To A Wide Array Of Needs

The newly launched developer exit product combined with rate reductions positions Precise as a proactive player within the bridging finance sector. By catering not only towards immediate transaction needs but also future planning through long-term financing options, they ensure that all client requirements are met comprehensively—whether it's moving onto another project or simply facilitating smoother transitions during property transactions.

Your Feedback Matters!

If you have thoughts about these developments or experiences using bridging loans from Precise or any other lender, we invite you to share your insights below! Engaging in dialogue around these topics helps foster community understanding and knowledge sharing within the industry.

Conclusion

The recent launch by Precise Financial Services not only introduces a valuable new product into their portfolio but also demonstrates an adaptive response to current market challenges faced by borrowers and brokers alike. By prioritizing customer flexibility through lower rates and broader access via updated criteria and LTV bands, Precise reinforces its position as a leading specialist lender committed to supporting its clientele through every phase of property finance needs.

As the industry continues evolving amidst economic shifts, staying informed about such innovations will empower brokers and borrowers alike in making educated decisions tailored toward achieving financial success in real estate endeavors.