Procuration fees are paid on a trail basis over the life of the loan to a maximum of 2.50% of the net loan.
The product is only available via its Premier Panel, which consists of: 3mc; Brightstar Financial; Buildloan Ltd; TFC /Capital Advances; Only Bridging; Positive Lending; SPF Short Term Finance; Sterling Partners Finance Limited; and Voltaire Bridging.
Gareth Lewis, Director of Bridging for Precise Mortgages, commented:
"For those borrowers where a zero facility fee coupled with a slightly higher monthly rate makes good financial sense, this gives both the borrower and the broker increased choice."
