The lender helped with the case when Jenny Gallagher, director at Canford Specialist Finance, introduced a customer in a chain-break situation who was looking to purchase a property at auction with a 56-day completion deadline.

The team agreed on a 12-month term bridging loan, giving the customer the choice to repay the loan once their existing house sold.

Alan Kimber, head of bridging at Precise (pictured above), commented: “Chain breaks are unfortunately common with house sales.

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“However, it doesn’t need to spell the end of the buying journey as bridging can often be the ideal solution, helping buyers continue with their purchase and providing the ability to sell their property at a later date.

“Jenny worked very closely with Ross and our in-house underwriters, diligently providing the information and documentation they requested, which really helped to push this case through quickly.”

Jenny said: “We first spoke about this case with Precise on a Friday and, by the following Tuesday, they had helped us submit a full application.

“Precise delivered an offer swiftly, allowing the client to proceed within the auction’s strict timeframe and allowing the purchase to complete comfortably within the 56-day deadline.

“Their property sold within eight weeks, meaning just two months’ interest is payable thanks to Precise’s flexible criteria.”