Review October’s Top Development Loan 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 development 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:

Sam's Case

Purpose of Loan: Development
Loan Amount: £735,000
Term: 18 Months
Security: 1st Charge
Agreement In Principle: Within 60 Minutes
Drawdown: Within 30 working days

READ ABOUT THE CASE

Case Details

Funding Of First Ground-up Development

Mint was approached by a developer who was looking to develop their first ground-up development and required funds to be in place swiftly following the demolition of the existing property. 

The client has instructed contractors and requires significant funds for day 1 drawdown with the project set to consist of 3 dwellings on the picturesque Northumberland coast. 

While the developer's level of experience for projects of this scale is low they have appointed extremely professional contractors. There is an efficient schedule of works, with regular monthly tranches to be drawn and we have included additional sale time into the facility to meet the exit conditions with no early exit fees in place.

Dave's Case

Purpose of Loan: Development
Loan Amount: £360,000
Term: 9 Months
Security: 1st Charge
Agreement In Principle: Within 60 Minutes
Drawdown: Complete prior to end of existing loan

READ ABOUT THE CASE

Case Details

Swift Loan Refinance & Shortfall Restructuring

Mint was approached by an existing client who needed to refinance an existing loan that was due to expire and also provide additional funds to complete the development of an ongoing project of a barn to residential conversion.

Mint also provided the client with a Second Charge loan to cover a shortfall on refinancing the original loan there would be no issues when they came to drawdown on day 1.

We worked with the developer to provide an additional 5 months within the loan to meet the exit strategy of sale, with no early exit fees should sale be achieved earlier.

Sam's Case

Purpose of Loan: Development
Loan Amount: £735,000
Term: 18 Months
Security: 1st Charge
Agreement In Principle: Within 60 Minutes
Drawdown: Within 30 Working Days

READ ABOUT THE CASE

Case Details

Funding of First Ground-up Development

Mint was approached by a developer who was looking to develop their first ground-up development and required funds to be in place swiftly following the demolition of the existing property.

The client has instructed contractors and requires significant funds for day 1 drawdown with the project set to consist of 3 dwellings on the picturesque Northumberland coast. 

While the developer's level of experience for projects of this scale is low they have appointed extremely professional contractors. There is an efficient schedule of works, with regular monthly tranches to be drawn and we have included additional sale time into the facility to meet the exit conditions with no early exit fees in place.

Dave's Case

Purpose of Loan: Development
Loan Amount: £360,000
Term: 9 Months
Security: 1st Charge
Agreement In Principle: Within 60 Minutes
Drawdown: Completed Prior To Existing Loan Completion



Case Details

Swift Loan Refinance & Shortfall Restructuring

Mint was approached by an existing client who needed to refinance an existing loan that was due to expire and also provide additional funds to complete the development of an ongoing project of a barn to residential conversion.

Mint also provided the client with a Second Charge loan to cover a shortfall on refinancing the original loan there would be no issues when they came to drawdown on day 1.

We worked with the developer to provide an additional 5 months within the loan to meet the exit strategy of sale, with no early exit fees should sale be achieved earlier.

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