Mint Bridging completes complex £1.69m
re-bridge for a client in default
Bridging lender Mint
Bridging completed a complex £1.688m rebridge for a client in default with
their existing lender.
The client was at a very advanced stage with another
lender who, for unknown reasons, couldn’t proceed. Mint was approached and
picked up where the other lender had left off, with underwriter Connor Hornby
dealing with the case quickly.
The valuation was instructed the day the enquiry was
received and inspected the following day. The loan was secured against three
leasehold apartments in affluent Central and Greater London locations.
Andrea Naylor, Mint’s in-house solicitor, said: “We
collaborated around the clock with all solicitors in the transaction, working
on the facility documents and enquiries together and taking commercial views
where we could.”
The borrower received the funds within two weeks of
the enquiry coming in, paying off his incumbent lender without further fees being
charged.
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