Precise makes enhanced AVM changes for bridging
Precise, part of OSB Group, has upgraded its policy around automated valuation models (AVMs) to help brokers speed up their bridging caseloads and free up more of their valuable time. With AVMs replacing select physical valuations, it can help smooth applications from offer to formal completion and enable customers to keep their cases moving without unnecessary delays.
Highlights of the upgrade include:
- Now up to 75% LTV meaning more cases qualify
- Includes properties up to £1.5m – covering 99% of properties
- AVMs now permitted for light refurbishment
These new upgrades, enhance the existing bridging range which launched in January 2025 and feature rates from 0.62% per month with no maximum loan size, no exit fee and no early repayment charges.
Alan Kimber, head of bridging, Precise said: “With chain breaks still being the most common use for bridging in 2024 according to the latest Bridging Trends data*, closely followed by investment purchases, our service enhancements certainly align with the market demands for swift and agile solutions.
“Following our successful bridging launch in January, we’ve continued to work closely with our broker partners and we’re confident that these upgrades will help streamline the bridging process allowing smoother customer journeys.”