Project Description

  • Manchester

  • £112,500

  • Auction

  • 7 Days


Loan Application

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Case study:

Middelton, Manchester

They developers operate predominantly in the north west of the UK and particularly focus on auction and renovation projects. The goal of the developers is to repeat their model which has seen them grow their portfolios over a number of years which is to buy in a good yield location and to undertake light to medium renovation.

The developers have set realistic timelines during the renovation process and have applied additional months within the redemption period to allow for the sale the developers have done this with the knowledge that when working with Mint should they either sell or look to refinance the property before the loan completion they will not be charged any additional fees.

As with the majority of auction finance deals speed is of critical importance with this purchase. This project was no different however the developers approached us deep into their 28 days post auction required payment period as their lender had pulled their funding offer due to a mine shaft close to the proximity of the property.
This is where Mint’s auction funding solution really came into its own as we were able to provide funding for drawdown within 7 working days, within which time asset management and quantity surveyors completed the necessary requirements.

Initially, the developers looked to complete the project within 6 months but changed the terms two additional times to allow for a longer built which Mint facilitated without any additional delay to draw down timelines.
When Mint was approached this was with an extremely short window to complete on a purchase. Our auction finance with the aid of our specialist underwriters ensured the developers didn’t lose funds and most importantly the property itself.

Should you require any funding pre or post-auction then contact Mint today to discuss your needs or alternatively submit an eligibility check to discover your level of funds.

See why businesses & investors trust Mint Bridging

to help them secure finance

Transparent

We review all finance options to find tailored funding solutions based on your needs

Quick Acceptance

Our service is funding is built for efficiency to help our clients grow without cashflow roadblocks

Service

From direct access to underwriters, free project management & more discover why Mint are best in class

Case study:

Middelton, Manchester

They developers operate predominantly in the north west of the UK and particularly focus on auction and renovation projects. The goal of the developers is to repeat their model which has seen them grow their portfolios over a number of years which is to buy in a good yield location and to undertake light to medium renovation.

The developers have set realistic timelines during the renovation process and have applied additional months within the redemption period to allow for the sale the developers have done this with the knowledge that when working with Mint should they either sell or look to refinance the property before the loan completion they will not be charged any additional fees.

As with the majority of auction finance deals speed is of critical importance with this purchase. This project was no different however the developers approached us deep into their 28 days post auction required payment period as their lender had pulled their funding offer due to a mine shaft close to the proximity of the property. This is where Mint’s auction funding solution really came into its own as we were able to provide funding for drawdown within 7 working days, within which time asset management and quantity surveyors completed the necessary requirements.

Initially, the developers looked to complete the project within 6 months but changed the terms two additional times to allow for a longer built which Mint facilitated without any additional delay to draw down timelines. When Mint was approached this was with an extremely short window to complete on a purchase. Our auction finance with the aid of our specialist underwriters ensured the developers didn’t lose funds and most importantly the property itself.

Should you require any funding pre or post-auction then contact Mint today to discuss your needs or alternatively submit an eligibility check to discover your level of funds.

From Funding To Completion Mint Provided

Strategic Support At Every Step


Loan Application

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


See why businesses & investors trust Mint Bridging

to help them secure finance

Transparent

We review all finance options to find tailored funding solutions based on your needs

Quick Acceptance

Our service is funding is built for efficiency to help our clients grow without cashflow roadblocks

Service

From direct access to underwriters,

free project management & more

discover why Mint are best in class

More case Studies