January’s Top Bridging Deals

Loan Funding Check

Enter your details to reveal available rates

By using this form you agree with the storage and handling of your data by this website.

2020 has started with a number of ambitious projects being funded by our speed bridging team. We asked 2 of our  bridging underwriters to select their best funded loan to display our flexibility to meet intemediary needs:

Amy's Case

Purpose of Loan: Refinance
Loan Amount: £289,250
Term: 12 Months
Security: 1st & 2nd Charge
Agreement In Principle: Within 90 Minutes

Case Details

Mint were approached to undertake a refinancing deal on behalf of a borrower. The borrower was in the process of developing an investment property when they became ill and had to put the development on hold.

The borrower was intending to exit their initial loan with a BTL mortgages which was initially agreed but subsequently revoked at the 11th hour. The borrower looked into clearing the initial loan by selling the property having now acquired arrears, but they had a buyer pull out at the last minute. In need of a resolution the borrower reached out to Mint Bridging.

Following comprehensive due-diligence on the borrower, their finances and the development property Mint were able to provide funds to clear the initial loan arrears and to get the development schedule back on track. The borrower will be working very closely with our portfolio managers throughout the development process to ensure that the project sticks to a clearly defined schedule of works.

Adam's Case

Purpose of Loan: Refinance
Loan Amount: £1.7M
Term: 9 Months
Security: 1st Charge
Agreement In Principle: Within 60 Minutes

Case Details

The client required funds to refinance an existing loan in order to complete the development of 41 residential flats for a large scale development in Walsall.

The deal was complex due to the exit strategy being a refinance to mortgage on project completion. We conducted swift and comprehensive due-diligence on the project and the developer. Working with the valuer we were able to use their investment yield calculations, site visit reports and our underwriting due-dilligence to provide the intemediary with the required deal.

Due to the efficeint timescales kept by the valuers, Mint Bridging's underwriters and both legal parties we were able to provide the full £1.7M for drawdown within 20 days.