Case Study
Bridge – Liverpool

A Successful ‘Development Exit’
For a New Borrower

Mint was recently approached by a new Borrower seeking to maximise the commercial return on their residential development in Sandfield Park, Liverpool.

The initial project involved the build of two detached houses and six flats, of which one house and four flats had been successfully sold following a brief period of marketing by a local estate agent.

However, in order to maximise the commercial return from the remaining units, the Borrower was seeking a ‘development exit’ Bridge to redeem the initial Lender whilst also providing themselves with an extended sale period in a market which is seeing buyers return in significant numbers.

Given that almost all measures of sales activity are higher than the previous period, including a 15% increase in sales agreed and a 20% increase in the number of homes for sale, Mint Property Finance were more than happy to assist.

Despite this being a new Borrower, the application was quickly processed and the legal undertaking proceeded at pace, which meant the previous Lender was redeemed without any penalities being incurred. And the properties are now for sale in this prestigious area of Liverpool charactised by large detached homes and premium apartments.

To find out if we can help you, contact the team on 0161 710 2006 or hello@mintpf.co.uk.