Bridging association recruits two new members

The Association of Bridging Professionals has recruited two prominent short-term lenders to its affiliate lender panel.

Precise Mortgages and Tiuta plc are the latest additions, bringing the number of lenders to ten. 

Precise Mortgages has recently entered the bridging market, whilst Tiuta has withdrawn from the regulated mortgage market to concentrate on core bridging loan activity.

Alan Cleary, managing director at Precise Mortgages, said: “We have had a tremendous response to the launch of our bridging and short-term lending proposition. We look forward to working closely with AOBP to develop this further.”

Steven Nicholas, CEO of Tiuta, said: “The bridging sector continues to grow and thrive and it is vitally important that we have a body committed to ensuring we operate with a coherent voice and that we are responsive to the changing nature of our business.”

Speaking on behalf of the AOBP, Danny Churchill, director of Commercial 1 and executive committee member, said: “The AOBP very much welcomes the addition of two new lenders to the affiliate panel.

“Tiuta brings with it a wealth of experience in the bridging and short-term lending sector, and Precise, although newly established, has an excellent management team and has recently launched into this dynamic and ever evolving sector of the mortgage market.

“This further demonstrates the importance of the AOBP and the impact it is having in such a relatively short space of time.”

Masthaven, Cheval and Dragonfly Property Finance are among the ten affiliate lenders on the AOBP panel.