Mint Property Finance Completes New Borrower Bridging Loan In Just Five Days

Leading specialist finance lender, Mint Property Finance, has today announced that it recently completed a Bridging loan for a new Borrower in just five days.

In response to an increasingly complex marketplace and the fast-evolving needs of Borrowers, Mint recently streamlined its range of products to just three; ‘Bridge’, ‘Refurb’ and ‘Development’. And it was this product streamlining that set a new Borrower up for success when they found themselves let down by another Lender.

Commenting on the fast turnaround of the loan, Adam Robson, Underwriting Team Leader – Bridging, said: “We received a call on a Friday morning with an initial enquiry regarding a BTL property in Nottingham. It was a new Borrower to us and this was their first project in the property sector, but they had sadly been let down by another Lender with little warning and at the very end of the purchase process.”

“Keen to demonstrate our ‘solution- orientated’ approach to business, I’m very proud to say that our whole team mobilised to the Borrower’s aid. We met the Borrower over the weekend, sourced a new valuation, liaised with their nominated solicitors, and leveraged our flexible funding lines to deliver the cash into the account of the Borrower’s designated solicitor in time to hit the vendor’s deadline of Tuesday. Great news.”

The property is a three-bedroom, end-of-terrace, ex-local authority house with off-street parking in the Bakersfield area of Nottingham. The Borrower is now undertaking a light refurbishment of the property using their own funds, prior to renting at a solid annual return.

Commenting on the case, Andrew Lazare, Director, said: “Nobody likes to see anyone in a challenging set of circumstances, so it was our pleasure to assist the Borrower at their time of need. It was common-sense to first meet the Borrower face-to-face and then investigate the proposed purchase property. Both outcomes were very positive, meaning we could quickly call for funds as the legal process proceeded apace. It’s just another example of Mint doing the right thing in a sometimes-daunting market, particularly for first-time Borrowers.”

Mint’s loan will be repaid via the refinancing of the property onto a BTL mortgage within the six-month term of the loan.

Cheshire-based Mint Property Finance is an award-winning specialist Lender recognised for its relationship-driven and flexible approach. Since its inception in 2011, Mint has enjoyed year-on-year growth and recently reported the ability to use Dual Representation and Open Market Valuations on kerbside residential properties purchased by existing Borrowers with loans up to £500,000.

Contact Mint on 0161 710 2006 or hello@mintpf.co.uk