What are the best alternatives to Precise Mortgages?

Why consider alternatives to Precise Mortgages?

Precise Mortgages sits in a specific niche and does it well. It is part of OSB Group, a FTSE 250 bank, and it underwrites the cases that automated systems reject: portfolio landlords with four or more mortgaged properties, HMOs, multi-unit freehold blocks, semi-commercial assets, and self-employed borrowers with income coming from three directions at once. Bridging is priced from 0.59% to 1.3% per month, with buy-to-let and commercial mortgages from around 5.5% per annum, on facilities of £75,000 to £15 million.

The reasons people look elsewhere are usually practical rather than a complaint about the underwriting. Precise gives a credit decision within 48 hours, but legal completion on a bridging loan typically takes 3 to 4 weeks, which does not work for a 28-day auction deadline. It is a broker-distributed lender, so direct access is limited. The £75,000 floor excludes small transactions and the £15 million ceiling caps the largest portfolio refinances. And its own record notes it is not the right home for very severe adverse credit across all credit types.

This guide covers seven lenders that beat Precise on a specific dimension: speed, entry rate, maximum facility size, credit flexibility, or product shape.

Top Precise Mortgages alternatives

1. Shawbrook Bank, Best for a bigger ceiling at a lower entry rate

Shawbrook Bank is the closest like-for-like competitor to Precise on portfolio and complex property lending, and it is cheaper at the entry point and larger at the top. It quotes bridging from 0.55% per month against Precise’s 0.59%, lends from £50,000 to £25 million against £75,000 to £15 million, and issues indicative terms within 24 hours rather than 48. It is a full bank with its own underwriting team rather than a scoring engine.

Rates and amounts: 0.55% to 1.25% per month on bridging, commercial mortgages from 5.5% per annum; £50,000 to £25 million. Representative APR 10.8% on bridging.

Eligibility: No trading history required for property-backed bridging; 12 months or more preferred for other products. Moderate adverse credit considered on property-backed products.

Pros: Indicative terms within 24 hours; completion typically 2 to 4 weeks; strong HMO, portfolio landlord and semi-commercial track record; business loans available from the same bank.

Cons: Slower than pure fintech bridging lenders on straightforward deals; minimum deal sizes exclude very small property transactions; unsecured business loans require £200,000 or more of turnover.

Best for: Portfolio landlords who want Precise-style manual underwriting but need more than £15 million, or want to shave the entry rate.

Regulatory status: Shawbrook Bank Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority, firm reference number 204574.

2. West One Loans, Best for a 24-hour decision and second charge bridging

If the reason you are leaving Precise is the 3 to 4 week completion, West One is the direct answer. It gives a credit decision within 24 hours and completes typically in 2 to 3 weeks. It also does something Precise does not: second charge bridging, so it can lend behind an existing mortgage without you having to refinance the first charge.

Rates and amounts: 0.55% to 1.3% per month on bridging, buy-to-let mortgages from 5.8% per annum; £50,000 to £20 million. Representative APR 11.2% on bridging.

Eligibility: No trading history required for property-backed bridging; no minimum turnover. Adverse credit considered case by case, with the exit strategy and property quality as the primary underwriting factors.

Pros: Second charge bridging available; both regulated and unregulated bridging from one lender; 24-hour credit decisions on straightforward cases; part of Enra Group with stable funding lines.

Cons: Primarily intermediary-only, so best accessed through a broker; less well known to direct borrowers; arrangement and legal fees apply as standard; development finance is limited compared with dedicated development lenders.

Best for: Investors on a fixed completion deadline, and anyone who needs to raise money behind an existing charge rather than replace it.

Regulatory status: West One Secured Loans Ltd is authorised and regulated by the Financial Conduct Authority, firm reference number 776026.

3. Together, Best for adverse credit that Precise will not take

Precise considers moderate adverse credit where the event is historical and explainable. Together goes further down that curve. It has been lending since 1974, treats credit issues as a case-by-case question rather than a filter, and prices from 0.55% to 1.5% per month, with the upper end of that band reflecting the risk it is willing to take on.

Rates and amounts: 0.55% to 1.5% per month; £50,000 to £25 million. Representative APR 11.4%.

Eligibility: No trading history required for property-backed lending; no minimum turnover. Adverse credit and non-standard income considered case by case.

Pros: More than 50 years of lending history; specialist in cases high street banks decline; indicative terms within 24 hours; covers bridging, commercial mortgages and development finance.

Cons: Higher rates than mainstream commercial mortgages; a clear and viable exit strategy is mandatory; arrangement fees and legal costs add to the total; not suitable for unsecured working capital.

Best for: Borrowers whose case was declined on credit history rather than on the property, and who accept a higher monthly rate to get the deal done.

Regulatory status: Together Financial Services Limited is the group holding company and does not itself hold an FCA firm reference number. Its regulated lending entities include Together Personal Finance Limited (firm reference number 305253) and Blemain Finance Limited (firm reference number 719121). Check which entity your facility sits with.

4. Hampshire Trust Bank, Best for lending above £15 million

Hampshire Trust Bank has raised its per-customer lending ceiling to £35 million across bridging, specialist mortgages and development finance, more than double Precise’s £15 million cap. It also targets 21 days from application to completion on bridging, backed by dual legal representation, and charges no early repayment charges on bridging finance.

Rates and amounts: Not published. Pricing sits in rate cards issued to registered brokers through HTB’s PUMA intermediary portal, and no minimum loan size is published either.

Eligibility: No minimum trading history or turnover published. Each case is assessed individually, and applications must come through a registered mortgage or finance broker.

Pros: Full UK bank with FSCS protection on deposits; £35 million per-customer ceiling; 21-day bridging completion target; no early repayment charges on bridging; covers specialist, semi-commercial and buy-to-let mortgages as well as development finance.

Cons: Intermediary-only, so you cannot apply directly; rates and detailed criteria are not published anywhere public; no published minimum loan size, which makes small cases hard to judge; not a day-to-day business bank.

Best for: Larger portfolio owners and developers whose requirement has outgrown Precise’s ceiling and who already work with a broker.

Regulatory status: Hampshire Trust Bank Plc is a full UK bank, authorised by the Prudential Regulation Authority and regulated by both the Financial Conduct Authority and the PRA, firm reference number 204601. Customer deposits are protected by the Financial Services Compensation Scheme.

5. Octopus Real Estate, Best for large and green-incentivised facilities

Octopus Real Estate operates at a scale Precise does not reach, with development loans from £5 million up to £100 million and commercial bridging from £1 million. It also offers something no other lender here does: a rate discount of up to 0.15% per month on bridging and development loans that improve a property’s EPC rating.

Rates and amounts: Residential bridging from 0.55% per month, commercial bridging from 0.85% per month; £50,000 to £100 million. No ceiling rate is published, so the final rate is assessed case by case.

Eligibility: No minimum trading history or turnover published. Lending is assessed against the security property, the scheme and the exit, and newly formed special purpose vehicles are commonly used.

Pros: Development loans up to £100 million; both regulated and unregulated bridging from one lender; EPC-linked rate discount of up to 0.15% per month; institutional funding through Octopus Group.

Cons: £1 million minimum on commercial bridging rules out small transactions; no published rate ceiling, representative APR or Trustpilot score; recent reorganisation under the Octopus Capital brand can confuse borrowers who knew it as Octopus Property; approval timescales are not published.

Best for: Developers and investors with schemes above £5 million, especially those improving EPC ratings on the assets they are financing.

Regulatory status: Octopus Investments Limited is authorised and regulated by the Financial Conduct Authority, firm reference number 194779. Residential bridging on a property the borrower lives in or intends to live in is offered on a regulated basis; commercial bridging, development finance and buy-to-let for investment purposes are unregulated, as is standard for UK business and investment property lending.

6. Aldermore Bank, Best for an annual-rate commercial mortgage

Precise prices bridging per month, which suits a 12-month exit but reads expensive against an annual rate. If your requirement is actually a term commercial mortgage on premises your business occupies, Aldermore prices in annual terms from 4.5% and lends from £2,000, far below Precise’s £75,000 floor. It also covers asset finance and invoice finance, which Precise does not touch.

Rates and amounts: 4.5% to 20% per annum depending on product, asset type and credit profile; £2,000 to £10 million. Representative APR 9.3%.

Eligibility: 12 months or more of trading for most products, and £100,000 of turnover for most products, with lower thresholds on some asset finance. Fair to good credit required.

Pros: Full banking licence with FSCS deposit protection; annual pricing that compares directly with high street commercial mortgages; same-day decisions on asset finance up to £250,000; broader product range than any specialist bridging lender.

Cons: Rates are not the most competitive for prime borrowers against mainstream banks; the 12-month trading minimum excludes start-ups; not a specialist adverse credit lender; less nimble on bespoke deals than an independent challenger.

Best for: Trading businesses buying their own premises, rather than investors flipping or refinancing property.

Regulatory status: Aldermore Bank PLC is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority, firm reference number 204503.

7. LendInvest, Best for the lowest published entry rate

LendInvest publishes the lowest bridging entry rate of any lender in this comparison at 0.54% per month, and matches Precise exactly on loan size at £75,000 to £15 million. It is a technology-led platform, so decisions land in 24 to 48 hours rather than 48 hours, and it adds development finance from 7% per annum, a product Precise does not offer.

Rates and amounts: 0.54% to 1.2% per month on bridging, development finance from 7% per annum; £75,000 to £15 million. Representative APR 11.1% on bridging.

Eligibility: No trading history required for property-backed lending; no minimum turnover. Moderate adverse credit considered, with experienced borrowers preferred for development finance.

Pros: Lowest published entry rate here; credit decision in 24 to 48 hours; AIM-listed and publicly accountable; strong development finance product for residential and mixed-use schemes.

Cons: The £75,000 minimum excludes smaller transactions; development finance requires demonstrable developer experience; less flexible on complex adverse credit than a dedicated specialist; arrangement and exit fees can add meaningfully to the total.

Best for: Experienced landlords and developers with clean, low loan-to-value cases who are shopping purely on headline rate.

Regulatory note: Lendus has not verified LendInvest’s regulatory status against a primary source, so no FCA claim is made here. Check the FCA Register at register.fca.org.uk before you commit.

Comparison table

Aldermore is quoted per annum because it prices term lending; every other rate in this table is a monthly bridging rate. A monthly bridging rate and an annual mortgage rate are not comparable figures, so read the total cost of credit rather than the headline.

How to choose the right alternative

Choose Shawbrook Bank if you want Precise’s underwriting style with a £25 million ceiling and a 0.55% per month entry rate.

Choose West One Loans if the deadline is the problem, or if you need to raise money behind an existing first charge rather than refinance it.

Choose Together if your case failed on credit history rather than on the property, and you can carry a rate up to 1.5% per month.

Choose Hampshire Trust Bank if your requirement is above £15 million and you already have a broker who can access its PUMA rate cards.

Choose Octopus Real Estate if you are financing a development scheme of £5 million or more, particularly one that lifts the property’s EPC rating.

Choose Aldermore Bank if you are a trading business buying premises and want an annual mortgage rate rather than a monthly bridging rate.

Choose LendInvest if your case is low loan-to-value with clean credit and you are optimising the headline rate.

One practical point for anyone leaving Precise over speed. A credit decision is not a completion. Ask each lender what its recent average was from application to funds released on a case like yours, and ask whether it uses dual legal representation, which is the single biggest lever on a bridging timeline. Then verify whichever lender you shortlist on the FCA Register at register.fca.org.uk before you sign anything.