South West Refurbishment Loan - Case Study: £526,000 (9 months)

CHALLENGE

• Mint Bridging helped a borrower who was progressing with a new property development venture. Their aim was to use a bridging loan as part of their ‘buy, renovate and sell’ property model
• Their next investment opportunity was to follow on from the completion of their first property refurbishment project. A refurbishment loan was provided by Mint Bridging
• The funds was needed to help contribute towards the purchase (and renovation costs) of a mock Georgian detached house built in the 1930’s

APPROACH

• Mint Bridging provided a first charge loan with a retention release to cover the costs of the planned refurbishment
• Our portfolio and asset management team worked closely with the borrower at the outset and throughout the duration of the refurbishment. This helped them achieve their project scheduled dates and bring completion in on time
• The lender has a wealth of experience in property development, so were on hand to contribute to the success of the investment project

RESULT

• The property has undergone complete renovation and transformed into a superb four bedroom house - with a significant increase in the value