Launching last year, the nominee for 2014’s Best Bridging Newcomer has revealed a line of specialist products in response to feedback from brokers, introducers and borrowers.
Commenting on the launch of the new product line, Andrew Lazare, Mint Bridging’s MD, said: “Our view is to treat each loan as a partnership; we're by the borrowers side and not peering over their shoulder. The beauty of being privately funded is that we have the freedom to go beyond criteria guidelines, and we can therefore help borrowers that other lenders would turn away.”
One of the spearheading products to the collection, Arch 65, is aimed at borrowers on existing bridging loans who need to re-bridge to another bridging lender.
The Manchester based lender stated that although this is an area many bridging lenders avoid, Mint will lend as long as the full history and background of the case is understood.
Andrew added: "We've listened to our brokers and our borrowers and these products have evolved from their feedback. The Mint ethos is to work with and for borrowers, to achieve our common goals.
Revive 75 and Evolution are both products aimed towards experienced landlords and developers and their refurbishment projects. The former, for those undertaking light projects with up to 75 per cent loan to value available and the latter, for those undertaking heavier projects and where considerable value is being added to the underlying asset.
With its Evolution product Mint will lend up to 70 per cent of the purchase price and up to 100 per cent of the development costs.
Mint’s Superbridge 100 offering allows the firm to lend against the open market value of a property. Also when a client has secured a genuine below market value purchase, the lender will fund up to 100 per cent of the purchase price.
Up to 75 per cent of purchase price is available on commercial properties and in buy to let transactions also.
Mint lends throughout England and Wales, on unregulated transactions, on a first charge basis. With loan sizes from £27,500 up to £1,000,000.
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