Mint News - Brexit Opens Doors for Mint Bridging

Mint July News Announcement   Brexit Opens High Volume, Low LTV & Bank Rejection Opportunities for Mint Bridging   Over the past five weeks, Mint Bridging has taken time to analyse a new turbulence in property, development & construction market trends. Even though it’s still early days and the next three months will obviously be quite erratic, Mint has been receiving large volume inquiries for short term, low loan LTV bridging loans. With overseas property owners looking to snap up & develop residential deals in the UK, the country is a safe haven for their money in case the Eurozone falls apart. Nevertheless, UK clients are standing ground in developing and flipping properties quickly, to eventually attract a higher return from overseas buyers. As the UK predominantly uses migrant workers for property construction & development, it’ll be interesting to see how the Government takes responsibility in reducing red tape and not fall into the trap of severing this flow of employment, letting the housing market grow without restrictions. As predictions for the long range are still on the fence for the wider economy, Mint’s heavily advising all clients about property valuations for the near future and that fluctuations are to be expected. Working closely with Mint’s in-house valuation team, clients are being fully informed that the property value percentage range, over the next few months, could be wide. As we’re heading towards a slow process of departing the EU and with banks restricting bridging loans, Mint has a great advantage as our loans are family funded: our company doesn’t rely on bank approval. Turning lemons into lemonade, big banks are now greatly affected by Brexit, with stronger lending restrictions enforced as a safety net until the dust settles. As a result, Mint are securing clients that usually would naturally gravitate to a bank for a bridge or re-bridge loan, scaling as a result of lenders turned away from traditional financial institutions. The knock on effect of Brexit has ultimately opened a new channel of business for these high volume, low LTV bridge & re-bridge enquiries. Andrew Lazare, Managing Director, confirms, “Our in-house legal and valuation team are working overdrive in ensuring that clients are crystal clear that valuation fluctuations are an absolute certainty. We’re still at such a raw stage in the Brexit aftermath, yet Mint’s always prided on our entrepreneurial vision. What we’re seeing is potentially a new loan growth of the business that usually would have been snapped up by banks. It could be a silver lining opportunity for us.” So contact us about bridging, re-bridging, 2nd charge loans and refurb/development loans. All our product guide information is here.