Review September’s Top Bridging Deals

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Mint is renowned within the industry for going above and beyond in order to secure deals for borrowers and  intermediaries often in the face of very difficult circumstances. To illustrate such instances two of our bridging finance underwriters have provided their top deals in September. From the millions they have written in loans, this is in their own words their top deal and why. On reading the below cases should you too require a loan agreement in principle then don’t hesitate to submit your request:

Adam's Case

Purpose of Loan: Raise Capital
Loan Amount: £112,500
Term: 8 Months
Security: Equitable Charge Loan
Agreement In Principle: Within 60 Minutes
Drawdown: Within 12 days of acceptance

READ ABOUT THE CASE

Case Details

Speed Was Of The Essence

Mint was approached by the broker who needed a lender to act quickly for their client who had been made bankrupt and had a tight time frame in which to get the bankruptcy annulled.

We had an agreement in principle issued within the hour for a loan of £112,500 at an interest rate of 1% on an eight month term. We completed this loan without a valuation to ensure we met the deadline that was set.

Even though the deal was complicated with having to secure second charge consent and deal with a client who was out of the UK the loan was available for drawdown within twelve days, meaning the client could avoid bankruptcy and the broker could keep their relationship strong

Jack's Case

Purpose of Loan: Business 2nd Charge Re-payment
Loan Amount: £125,000
Term: 18 Months
Security: 2nd Charge
Agreement In Principle: Within 60 Minutes
Drawdown: Within 8 days of acceptance

READ ABOUT THE CASE

Case Details

Avoidance Of Additional Fees

The borrower needed to secure funds quickly in order to avoid incurring additional fees on a second charge, which was set to expire

Given that the client was looking for a second charge loan the deal was proving difficult for a number of providers to deliver at speed due to second charge consent being required. Mint had an agreement in principle for the borrower within 60 minutes and was also able to further speed up delivery by allowing the loan without the requirement of a valuation.

We provided a £125,000 loan, that completed within 5 days allowing the borrower to refinance the existing second charge and provide much-needed working capital into their business. The loan drew down within 8 days.

Adam's Case

Purpose of Loan: Raise Capital
Loan Amount: £112,500
Term: 8 Months
Security: Equitable Charge Loan
Agreement In Principle: Within 60 Minutes
Drawdown: Within 12 days of acceptance



Case Details

Speed Was Of The Essence

Mint was approached by the broker who needed a lender to act quickly for their client who had been made bankrupt and had a tight time frame in which to get the bankruptcy annulled.

We had an agreement in principle issued within the hour for a loan of £112,500 at an interest rate of 1% on an eight month term. We completed this loan without a valuation to ensure we met the deadline that was set.

Even though the deal was complicated with having to secure second charge consent and deal with a client who was out of the UK the loan was available for drawdown within twelve days, meaning the client could avoid bankruptcy and the broker could keep their relationship strong

Jack's Case

Purpose of Loan: Business 2nd Charge Re-payment
Loan Amount: £125,000
Term: 18 Months
Security: 2nd Charge
Agreement In Principle: Within 60 Minutes
Drawdown: Within 8 days of acceptance

READ ABOUT THE CASE

Case Details

Avoidance Of Additional Fees

The borrower needed to secure funds quickly in order to avoid incurring additional fees on a second charge, which was set to expire

Given that the client was looking for a second charge loan the deal was proving difficult for a number of providers to deliver at speed due to second charge consent being required. Mint had an agreement in principle for the borrower within 60 minutes and was also able to further speed up delivery by allowing the loan without the requirement of a valuation.

We provided a £125,000 loan, that completed within 5 days allowing the borrower to refinance the existing second charge and provide much-needed working capital into their business. The loan drew down within 8 days.

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