• St Leonards-on-Sea

  • £154,250

  • Auction

  • 12 Days


Auction AIP & Commission Check

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Case study: St Leonards-on-Sea

Project completed: January 2020

The Client:

Experienced Developers, with a number of successful buy-to-let developments to their name, seeking fast access to fund an auction purchase.

The Property:

Situated in the popular location of St Leonard-on-Sea near Hastings the 3 bedroom property was to be sold at auction and the Developer planned a light refurbishment.

The Challenge:

The borrower was looking to purchase the property and was prepared to offer a 1st and 2nd charge against two of their existing buy-to-let developments as security for the purchase loan.  Funds for the property’s refurbishment were being provided by a third party. The exit of the loan was to be a refinance on the completion of the works.

The solution:

Given the client’s excellent track record and a sound schedule of works we were able to provide the funds for the purchase.  Mint Bridging provided a £154,250 bridging loan over a 6 month term to secure the auction purchase.  The third party investor was required to enter into a deed of subordination for their refurbishment loan.

The outcome:

The purchase completed on time and subsequently the works were finished ahead of schedule.  The property has just been listed to let.

More and more developers are turning to Mint Bridging for our award-winning finance solutions. Speak to us today regarding your funding needs and to understand why our clients love working with us. With no restrictions on the level of experience required and extremely competitive rates, Mint Bridging is one of the most flexible lenders in the UK.

Do you need Development or Bridging Finance? Talk to the Mint Bridging team today: 0161 710 2763

Alternatively, submit an Eligibility Check and find out what you could borrow.

Case study: St Leonards-on-Sea

Project completed: January 2020

The Client:

Experienced Developers, with a number of successful buy-to-let developments to their name, seeking fast access to fund an auction purchase.

The Property:

Situated in the popular location of St Leonard-on-Sea near Hastings the 3 bedroom property was to be sold at auction and the Developer planned a light refurbishment.

The Challenge:

The borrower was looking to purchase the property and was prepared to offer a 1st and 2nd charge against two of their existing buy-to-let developments as security for the purchase loan.  Funds for the property’s refurbishment were being provided by a third party. The exit of the loan was to be a refinance on the completion of the works.

The solution:

Given the client’s excellent track record and a sound schedule of works we were able to provide the funds for the purchase.  Mint Bridging provided a £154,250 bridging loan over a 6 month term to secure the auction purchase.  The third party investor was required to enter into a deed of subordination for their refurbishment loan.

The outcome:

The purchase completed on time and subsequently the works were finished ahead of schedule.  The property has just been listed to let.

More and more developers are turning to Mint Bridging for our award-winning finance solutions. Speak to us today regarding your funding needs and to understand why our clients love working with us. With no restrictions on the level of experience required and extremely competitive rates, Mint Bridging is one of the most flexible lenders in the UK.

Do you need Development or Bridging Finance? Talk to the Mint Bridging team today: 0161 710 2763

Alternatively, submit an Eligibility Check and find out what you could borrow.


Auction AIP & Commission Check

By using this form you agree with the storage and handling of your data by this website.


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