Precise completes £4m bridge for share purchase in high end fashion house

By Bridging Loan Directory 13th January 2025

Precise, part of the OSB Group, has completed a £4m bridge to support business expansion plans to purchase shares in an exclusive high end fashion house.

Completed in 10 working days, the £4m bridging finance deal was secured against the customer’s second home worth just under £8m.

The case was on a 12-month term with the capital raised used to support business expansion through share purchase.

The case had been declined by another lender due to its complexity, so time was of the essence and unanimous approval for the deal to proceed was quickly obtained from the Transactional Credit Committee.

Precise’s dedicated bridging underwriters then reviewed the application within 3 hours and requested additional documents for the case to proceed to sign off.

The Bridging Team worked alongside panel solicitors JMW ensuring that the broker and client were kept fully updated, enabling the deal to be delivered in record time.

Alan Kimber, Head of Bridging, Precise said:

“Bridging can be the ideal option for those in need of short-term finance and most commonly used to help raise capital to purchase property.

This case is a perfect example of how bridging can also be a very viable finance option for business development opportunities.

Simon Ward and the bridging team were the stars of the show and pulled out all the stops to help get this case back on track.

It really highlights the expertise and market knowledge that we’re known for at Precise.”

Paul Bass, Director, Prolific Mortgage Finance said:

“After an existing deal fell through, the time was ticking to get this case over the line by the customer’s deadline.

The bridging expertise at Precise coupled with amazing customer service from Simon and the team ensured our client achieved a fantastic result and we’re looking forward to doing more business together in 2025.”