Precise saves residential chain with £1.7m bridging deal

09 June 2025

Leading specialist lender, Precise, has completed a £1.7m bridging finance deal which was used to prevent a residential chain break. With chain breaks cited as the top reason for needing bridging finance in 20241, bridging finance is widely recognised as being a financial solution when customers need a fast fix.

Precise helped with the case when Jenny at Canford Specialist Finance provided details of a customer in a chain-break situation with the added urgency that the property they wanted to purchase was available at auction, which meant a 56-day completion deadline.

The team worked together and agreed that a bridging loan with a term of up to 12 months would provide the financial security needed. This option gave the customer the choice to repay the loan once their existing house sold, therefore only paying for the time they needed.

Alan Kimber, Head of Bridging, Precise said

“Chain breaks are unfortunately common with house sales, and in 2024 28.8% of all property sales fell through2. 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 Gallagher, Director, Canford Specialist Finance 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.

It’s cases like this that show just how effective specialist finance can be when all parties are aligned and responsive. The support from all at Precise was second to none.”