The product is available through distributor 3mc, which worked with both lenders on its design, and uses Precise to fund the bridge while Aldermore funds the remortgage.
Both are processed at application stage by 3mc and use the same valuer for both lenders.
The product will provide developers and professional landlords with the surety of funding.
Alan Cleary, managing director of Precise Mortgages, said: “It is great to see 3mc innovating on product choice and we believe this will be a very attractive product for many property investors.”
Rob Lankey, managing director of Aldermore Commercial Mortgages, said 3mc had identified a growing market opportunity.
He added: “They responded with an attractive package that combines both bridging and an exit route using an Aldermore buy-to-let mortgage.
“We look forward to working with Doug Hall and his team to ensure this package is a great success. ”
And Doug Hall, director of 3mc, said: “As the vanilla buy-to-let market continues to grow and develop so does the specialist buy-to-let market.”
