North East
Nine Months
CHALLENGE
- A simple auction purchase, to
ensure that the loan was completed by the underwriting team, to the
time frame set by the auction contract
- Mint Bridging were notified that the borrower had decided to take a last minute holiday. We were informed, during the latter stages, that the revised completion date would now need
be five days ahead of the agreed schedule
APPROACH
- Mint stepped up and dispensed with
our business-as-usual processes, which (on this occasion) might not
guarantee completion to this tight new deadline
- Emails was disregarded as the underwriters delivered all the requirements face-to-face, from
liaising with the transactional solicitors, to all
outstanding instructions needed
RESULT
- The loan completed to allow for
settlement of the auction purchase of the property, ensuring that
significant penalties were not incurred
- In addition, funding was also
provided to enable the borrower to renovate and refurbish this
tired and uninhabitable property
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