Mint Bridging, the family owned and privately funded bridging and commercial lender, has recently announced that it will now be offering a new 80% loan to value (LTV) bridging loan product.
This latest release comes with a minimum loan of £100,000 and a maximum of £1 million – offering great scope to a diverse range of projects and customers. Offering deals throughout England and Wales, this product is designed for experienced clients only and comes with no additional security requirements.
The 80% Bridging Loan includes non-regulated first charge loans for heavy refurbishments and conversions only, whereby clients are required to have 100% of the funds for the works prior. This is particularly useful for scenarios such as ‘tart and turns’, commercial and semi commercial conversions to residential, houses being split into apartments, and finally the renovation and modernisation of tired residential properties.
Elsewhere in the mortgage market, the dedicated real estate finance specialist Quantum, by Bridgebank Capital, has also released its latest offers for short term finance solutions designed for redevelopment projects.
With lending offers throughout the UK, the lender has leverage up to 100% LTV with additional security included. Quantum’s latest offer comes with up to 70% LTV for loans based on market value, with interest rates starting from 0.85% per month. This deal comes with no upper lending limit for a 1 to 12 month term along with no exit fees.