November’s Bridging Funding Overview

Loan Funding Check

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Mint Bridging have seen no signs of slowing in November with millions being drawn down on a vast array of bridge loans. Review a sample overview of some of our hand-selected deals from November and should you or a client require funding be sure to submit an enquiry to check your rate with us :

This Month Bridging Review

Walsall

Purpose of Loan: Commercial Property Purchase
Loan Amount: £627,000
Term: 12 Months
Security: 1st Charge
Agreement In Principle: Within 60 Minutes



Case Details

The lender required the funding to complete the purchase of a commercial property which had recently been granted planning permission. The developer is planning to change the use from B1 to C3 for the construction of 13 flats, which they expect to complete within the 12 month term.

Wimbeldon

Purpose of Loan: Residential Purchase
Loan Amount: £1.1M
Term: 6 Months
Security: 1sr Charge
Agreement In Principle: Within 60 Minutes

Case Details

The loan is being used to fund the property purchase of a £1.5M residential property. The property also has planning in place for the development of an additional 3 storey property on the adjoining land. The lender is receiving additional assistance from guarantors who will take a second charge on the property.