Residential Bridge, No Valuation

 

 

  • North East
  • £112,364
  • 9 Months
  • No Valuation

Challenge

Initially, our client came to us for a simple auction loan so they could purchase a property that was in need of renovation. Shortly afterwards, our client decided to take a last-minute holiday and, whilst he was overseas, Mint were informed that the completion date would be five days ahead of the date originally agreed.

 

 

Approach

In response to a tight deadline, we activated our ‘No Valuation’ product and dispensed with email communication – instead instructing our Underwriters to deliver all the requirements face-to-face, including liaising with the Solicitors to keep things moving quickly.

 

 

Result

The loan completed to allow the auction purchase to go ahead and to ensure that significant penalties weren’t incurred. We then went on to fund the refurbishment of the property, allowing our client to transform it into a modern and attractive home.

 

 

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