Alan Cleary, managing director of Precise Mortgages says, “We have done extensive research into this market and believe that we can be a credible provider of lending products to the intermediary sector. We have the funding and expertise to make a significant impact.”

Danny Churchill of Commercial 1 Ltd added, “Their entrance into Short Term Lending shows how rapidly the market has evolved over the last few years. This is good news for mortgage intermediaries and for our customers.”

The lender has stated that it will confirm a launch date next week.