Bridging lender Mint Bridging completed a complex £1.688m rebridge for a client in default with their existing lender.
The client was at a very advanced stage with another lender who, for unknown reasons, couldn’t proceed. Mint was approached and picked up where the other lender had left off, with underwriter Connor Hornby dealing with the case quickly.
The valuation was instructed the day the enquiry was received and inspected the following day. The loan was secured against three leasehold apartments in affluent Central and Greater London locations.
Andrea Naylor, Mint’s in-house solicitor, said: “We collaborated around the clock with all solicitors in the transaction, working on the facility documents and enquiries together and taking commercial views where we could.”
The borrower received the funds within two weeks of the enquiry coming in, paying off his incumbent lender without further fees being charged.