The specialist lender’s no fee product, which will be available online from 21 January, is designed to suit property investors who can refurbish a property within 4-6 months, and then refinance with a buy-to-let mortgage.
As with any of Precise’s refurbishment bridging loans, investors can then switch to a different buy-to-let product after just one month.
Its pricing won’t include a facility fee, however it will comprise of a monthly pay rate from 1 per cent and a gross procuration fee of 1 per cent.
Managing Director of Precise Mortgages Alan Cleary said: “The zero fee allows the borrower to keep the fees to a minimum.”
For more details on this new product, please visit www.precisemortgages.co.uk from the 21st of January.
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