Precise completes 10 day bridge for first time buyer

22 April 2026

Specialist lender Precise, part of OSB Group, has completed on a bridging loan for a first time buyer purchasing their main residence at auction in Somerset. Working closely with the team at SPF Private Clients, the case moved from decision in principle (DIP) to completion in just 10 working days, enabling the customer to meet the strict two week auction deadline.

A full valuation was needed on the property, adding to the overall timeline. However, the use of dual representation helped speed up the legal process, ensuring the case stayed on track for a timely completion.

With the acquisition complete, the customer will exit onto a residential mortgage, using the bridging facility as an effective stepping stone onto the property ladder.

Alan Kimber, Head of Bridging, Precise said

“Many first time buyers assume a traditional mortgage is their only route into homeownership, but this case demonstrates how bridging can provide a practical and flexible alternative, particularly when speed is essential. Completing from DIP to completion in 10 working days is a testament to our team, our processes and the strong collaboration with our broker partners. We're proud to support customers in accessing solutions that help turn opportunity into reality.”

Amadeus Wilson, Executive Director, SPF Private Clients said

“We were delighted to work with Precise to deliver a seamless and time critical outcome for our client. Auction purchases create unique pressures, especially for first time buyers, and having a lender that can move quickly, communicate clearly, and work collaboratively makes all the difference. This case highlights the value of bridging finance as a strategic tool in the right circumstances.”