Mint Bridging launches auction product
Mint Bridging has developed an auction product for purchases of houses, flats and commercial properties.
"We have designed this product to enable buyers to invest in auction property, without having a high monthly interest rate. "
The product is available from 0.45% per month up to 70% LTV. Terms are 1-12 months and it carries a maximum loan size of £3m.
Managing director, Andrew Lazare, commented: “Building on our ongoing success with developing handcrafted loans, we looked at how we could handcraft an auction product. We have designed this product to enable buyers to invest in auction property, without having a high monthly interest rate.
"With the benefits of streamlined conveyancing via title insurance, we can provide this product with fast turnarounds which is just what this part of the bridging market needs. We initially gave this product a soft launch and it has been so well received that we are now opening it up to the wider market.”
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