Mint Bridging separates teams for bridging and development

Brian West

31 May 2019 11:44 GMT

A desire to provide broker partners with greater clarity has been the inspiration behind Mint Bridging announcing further enhancements to its offering, says the firm's managing director Andrew Lazare.

He has revealed that Mint has separated out its development lending from its traditional bridging lending, with two distinct teams covering these two very different types of lending, following the recent announcement of the provision of direct access to its eight mandated underwriters.

Mint Bridging, the award-winning short-term bridging lender recognised in the industry for fast, flexible and fair lending, has ensured that the new development team is staffed by experienced development underwriters, supported by an expanded portfolio management team who are experts at supporting borrowers throughout the build. This team is overseen by credit risk manager, Peter Howarth, who has several decades of development experience.

Meanwhile, the bridging team has been set up to provide a slick, professional service for those needing a fast and effective traditional bridge. Mint will be announcing a radical new product offering in the coming days which underpins the service proposition. Lazare said:

“As we looked at our progression as a business and our recruitment over recent years of some very experienced and impressive staff, we felt that the time was right to create differentiated offerings for the two different types of lending, thereby providing our broker partners with greater clarity.

“Many lenders mix together development and traditional bridging into one team but we felt that it would be better to provide a structure which allowed each of our staff to concentrate on one, rather than both of these areas of lending given that they are so very different. We are very excited about being able to provide a bespoke service.”

With more than 100 years of collective lending experience, Mint provides bridging, development and refurbishment loans as well as auction finance, re-bridging and commercial loans. In the near decade since it was formed, Mint has lent on a short-term basis in virtually every possible lending scenario.

The news comes after the firm recently became a lender partner of the Financial Intermediary & Broker Association (FIBA). The bridging lender aims to give FIBA members access to its underwriters as well as its range of products. In addition to Mint Bridging streamlining its lending process to deliver faster decisions

Commenting on the development Lazare said:

“We are at a stage in our growth where our success is increasingly making us a key industry player. We are keen to contribute our growing experience and knowledge to engagement across the sector and help shape its potential, both through discussion of future legislation and the work that the forum does in sharing new ideas and best practice. Being a member allows us to learn from other members as well and will assist in the expansion of our business.”

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