Available in England and Wales on residential, kerbside houses and flats, Mint’s increased LTV loans have no minimum term and allow a maximum borrowing of up to £500,000.
As previously noted in a recent interview with Bridging & Commercial Magazine, Andrew Lazare, director at Mint Property Finance, noted that recent legislative changes are adversely affecting the investment sector for portfolio landlords.
Andrew commented that BTL as an asset class is becoming more difficult, as ‘passive’ monthly returns get slimmer.
To combat this, Mint's increased LTV loans will allow borrowers to maximise a project’s GDV from the start.
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Funds for refurbishments will be available from the outset of the loan rather than through a drawdown process or mezzanine finance with another lender or investor, allowing borrowers to focus on completing the project efficiently and to a high standard.
Commenting on the launch, Andrew said: “The property market spoke. We listened. And our family values enabled us to act.
“Over the course of the last four years we’ve learnt how to even better understand a portfolio landlord's experience, even if this has been gleaned through working on projects with other lenders.
“We’re thus able to trust borrowers even more, and work flexibly with them at even higher LTVs, helping them to achieve even greater commercial and reputational success in the property sector.”
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