The deal was undertaken with Clifton Private Finance on behalf of a client seeking short term finance, while they sold their new build properties and involved four detached and two semi-detached properties with a valuation amount of £3.9m.

Ross Williams, specialist account manager at Precise and Nick Kerley, senior finance broker at Clifton Private Finance worked closely to ensure the case completed before the development loan deadline.

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Alan Kimber, head of bridging at Precise (pictured above), commented: “We’re delighted to be able to support Nick and his client with this deal and provide the added bonus of being able to redeem their previous finance a month early.”

Nick Kerley, senior finance broker at Clifton Private Finance, added: “Our client, an experienced developer, was over the moon with getting this case over the line and similarly with the service they received.

“The existing lender didn’t provide exit products, however as Precise is a real specialist in this area, we were confident they would be able to help. 
“The deal was not without its challenges, but we were able to complete and with time to spare! This was a great example as to why we use Precise, not only for their market leading rates, but for their exemplary service from start to finish.”

The deal follows a £1.7m bridging finance deal from Precise which was used to prevent a residential chain break.