Mint Property Finance are a fresh and flexible finance provider who offer a specialised range of products designed to help developers and investors of all sizes expand.
The bridging finance industry is closely associated with property development, and the two sectors often grow very close together; bridging finance is the perfect tool for developers who need to jump-start a project, or secure vital real estate before their competitors do, and bridging finance is ideal for just these purposes. Mint Property Finance is a lender who specialise in offering specially-designed products for the property development market and focus on providing high-quality loans with flexible terms.
Speed is key when securing finance, and Mint Property Finance is able to provide lightning-quick funding to their clients. As a private principal lender, Mint Property Finance can offer a decision in principle within just 48 hours of a request, and once this is approved funds may be drawn down in as little as 3 days. This speed of service provides their customers with the ability to confidently bid for new projects and invest in expansion.
Because Mint Property Finance are a tightly-knit team of experts, each loan application is dealt with by a direct decision maker, meaning that there is no back-and-forth whilst decisions are made and backers are consulted; a straight “yes or no” answer will be received in less than 48 hours, and the project can begin.
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A bridging loan is a short-term loan secured against property. It allows you or your business to “bridge a gap” until either longer-term finance can be arranged, or the underlying security or other assets can be sold.
Development finance can be offered against both residential and commercial property. Development loans are designed to help developers fund refurbishments, renovations, or conversions of existing property or to build brand new properties on a ground-up basis.
Development finance can be used for new build projects, commercial and residential developments, renovations, conversions or for the redevelopment of existing properties. Loans can be used for a vast range of different property types.
By assessing how extensive the project is, how long it is likely to take and how much it is likely to cost in a worst and indeed a best-case scenario. Refurbishment bridging loans will cover a majority of light and heavy refurbishment projects but for more extensive development projects including ground-up builds of one or indeed multiple units, development finance can potentially cover both the land purchase and build costs
Loans generally range from £25,000 to many millions depending on the size and complexity of the planned development. The amount that can be borrowed depends on the strength of the development proposition, the location, the potential profits, the perceived risks and of course ultimately on the lenders risk appetite.
Yes. Rates are generally a little higher for development finance which reflects the greater complexity and slightly higher risk associated with this form of lending.