Mint Bridging removes need for valuations on straightforward cases
Mint Bridging has removed the need for a valuation, an application form and ‘personal guarantees’ for a sub-60% loan-to-value straight forward bridging loans on existing residential properties worth up to £1.5m.
This follows the provision of direct access to its eight mandated underwriters and the creation of different specialist teams for development lending and traditional bridging activities.
Andrew Lazare, managing director at Mint Bridging, said: “The separation of our teams has created an ideal opportunity to look afresh at what it means to be a provider of traditional bridging products & services.
“For this type of lending our intermediary partners and borrowers particularly value a speedy, slick, cost-effective process.
“We have listened to their needs and are pleased to be able to make these criteria changes to allow us to launch this new product. We believe it will deliver exactly what they have asked for, and will be very popular.”
With over 100 years of collective lending experience, Mint provides bridging, development and refurbishment loans as well as auction finance, rebridging and commercial loans.