Mint Launches Auction rate of 0.45%
Bridging lender,
Mint Bridging announces today that it has developed an auction product with
rates from 0.45% per month. It is available for purchases of houses, flats and
commercial properties.
The product is
available for LTV’s of up to 70%. Terms are 1-12 months and it carries a
maximum loan size of £3m. This new product is open to new and existing
introducers.
Managing
Director, Andrew Lazare, elaborated: “Building on our ongoing success with
developing handcrafted loans, we looked at how we could handcraft an auction
product. We have designed this product to enable buyers to invest in auction
property, without having a high monthly interest rate.
With the benefits
of streamlined conveyancing via title insurance, we can provide this product
with fast turnarounds which is just what this part of the bridging
market needs. We initially gave this product a soft launch and it has been so
well received that we are now opening it up to the wider market.”
Please contact
Sinead or Andrew at 0844 415 6500.
Mint Bridging has
been operating since 2011, offering uniquely structured, handcrafted short-term
bridging loans (up to £5 million) that borrowers use to fund property
purchases, refinance, second charge loans or development projects. As the
business is privately funded, third parties do not dictate lending decisions.
This results in their brand strategy generating faster loan conversions.
For brokers
looking for a fast, flexible and original approach to borrowing, Mint has a
team of 30 people with six mandated underwriters. Sinead Moynihan heads up the
sales team, while Richard Showman manages the underwriting team. Andrew Lazare
and industry magnate Mark Abrahams run the business.
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