Tuesday, September 10, 2019

Case Study: £97,500 Acquisition 7 Days


Here's an exciting new case study about a property at 10a Sedgley Avenue Nottingham for an acquisition bridging loan:


Patroclus Ltd is a full service design and management company who operate nationwide, specifically focusing into locations with high student populations. They specialise within the HMO and student accommodation space, predominantly with the clear goal of providing their clients with a superior standard of living.

The company has gone from strength to strength since its inception in May 2016 and now operates a growing portfolio, which has seen a consistent increase in turnover year on year. This latest investment was an opportunity for the company to consolidate their position within the Nottingham HMO sector.

As with many property portfolios, liquidity can be a hindrance when quickly look for finance to secure the next opportunity. Sedgley Avenue, Nottingham provided such a situation where the company needed to raise funds fast for the purchase of this rundown storage and garage premises. They wanted to re-develop it into a six bedroom HMO.

Patroclus approached Mint Bridging looking for funding options and help with efficiency being a key concern. Following conversations regarding the current business, its financial situations, recent history and future plans, we were able to provide a number of financial solutions. Here are before (left sides) and after (right sides) images:



With the plans to purchase the property via the loan and develop the project using their own funds, Mint were able to offer funding within 28 days. Once the finance was deposited by Mint, the company quickly purchased the property and began their 14 month development of the site in Nottingham. 

What the client had to say about working with Mint

“Our client had funded their development with a well-known bridging lender. The development of apartments were all completed and on the market for sale but the current lender refused to extend the term, and instead was threatening an LPA receiver. We successfully worked with Mint to refinance the loan, providing our borrower with enough time to sell the flats and realise their profit.”


Aaron Sinclair, Mint Bridging Customer



Monday, September 2, 2019

Vote for Mint in the Moneyfacts 2020 Awards

Mint Bridging’s up for Best Bridging Lender at the Moneyfacts Awards. Here’s the link to vote for us: https://www.smartsurvey.co.uk/s/mintbridgingbmf/


It’ll take all of three minutes to vote and support Mint. The exciting part - there’s a prize draw for survey completions! It’s a £150 Amazon voucher that’ll be offered by Moneyfacts (not Mint).

The voting is open between now and Friday, 8th November. Thank you so much in advance.



Prize Draw Terms and Conditions   
The prize draw is not open to employees (or members of their immediate families) of Moneyfacts Group. There is no charge for entering. Only one entry per person. The closing date is midnight on Friday 8 November 2019, and entries received after this point will not be eligible for the prize draw. The prize is a £150 Amazon voucher. The winner will be selected at random from all eligible entries received. The draw will take place on Monday 11 November 2019. The winner will be notified on or shortly after this date by email. If the prize is unclaimed or declined within a reasonable period, a replacement winner may be drawn at Moneyfacts’ discretion and notified by email. Moneyfacts will not be responsible for any inability of the prize winner to take up the specified prize. You can find out who has won the prize draw by sending a stamped self-addressed envelope marked BMF Prize Draw to Moneyfacts Group plc, Moneyfacts House, 66 – 70 Thorpe Road, Norwich NR1 1BJ after the date of the draw. Moneyfacts reserves the right to provide a substitute prize of similar value should the specified prize become unavailable for reasons beyond its control. Cash or credit alternatives will not be offered. The prize is not transferable. By entering the prize draw the winner agrees to participate in such promotional activity and material as Moneyfacts Group plc may require. Entrants must have satisfactorily completed the awards survey to be eligible for the prize draw. This competition is being run by Moneyfacts Group plc, Moneyfacts House, 66 – 70 Thorpe Road, Norwich NR1 1BJ. Moneyfacts’ decision is final and no correspondence will be entered into. Moneyfacts Group reserves the right to amend these rules at any time. Moneyfacts Group will endeavour to send prizes within a month of the prize draw closing date but cannot guarantee this delivery time. Entries not complying with these terms and conditions will be invalid.

Tuesday, August 27, 2019

New Case Study: Grimsby | Development Loan: £128,000 | 12 Months


Case study:  4 Fraser St, Grimsby, DN32 8AQ

Urban Lets Northern are a very new development company having only incorporated 12 months ago. Despite being a newly formed company the stockholder within the company are actually established borrowers and as such they have their core investment principles in place for which they look to distinguish good development opportunities.

The company look for investment opportunities close to their base in Leeds and in particular they look for medium refurb to development opportunities. Being well versed in development served them well when they cam e to Mint looking to fund a multi property project.

Urban Lets Northern approached Mint looking for a development loan to undertake a medium grade refurbishment across two properties in the Grimsby area. Being experienced the developers were very clear on what they required from there funder and were delighted when Mint were able to provide more day1 drawdown than they expected given the complexity of the refurbishment project.
Our development loan was for £128,000 0ver 12 months with an initial day 1 drawdown of £83,000. The company have worked very actively with Mint Bridging throughout the funding process with the first property complete and the second one due for completion imminently.

From funding to completion, Mint Bridging provided strategic support at every step.

Before (left) and after (right) photos:



What the client had to say about working with Mint:

“Our client had funded their development with a well-known bridging lender. The development of apartments were all completed and on the market for sale but the current lender refused to extend the term and instead was threatening an LPA receiver. We successfully worked with Mint to refinance the loan, providing our borrower with enough time to sell the flats and realise their profit.”

Aaron Sinclair, Mint Bridging Customer