Precise Completes £1.2m Bridging Deal in 11 Working Days Using Title Insurance
UKPulse Consumer Desk
Precise has completed a £1.2 million bridging finance transaction in 11 working days, utilising title insurance and joint representation to accelerate a refinance for a development project.
- The £1.2 million bridging finance transaction was completed in 11 working days.
- Title insurance and joint representation legal structures were used to accelerate the process.
- The deal progressed from application to offer in seven working days, with completion four days later.
Precise has completed a £1.2 million bridging finance transaction in 11 working days. This accelerated timeline was achieved by using title insurance and joint representation legal structures for a time-sensitive refinance of a development project.
The refinance was needed to repay an existing lender whose terms were nearing expiry. Precise also provided additional funding to help complete the final stages of the development, with the borrower planning to sell the property once works are finished.
The transaction timeline saw the deal move from application to offer in seven working days. A further four working days passed from offer to completion, resulting in the total 11-working-day turnaround.
Why this matters: The transaction highlights how title insurance and joint representation can accelerate financing for development projects, which is increasingly important as the UK new homes market faces profitability challenges and developers seek flexible solutions.