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Record month for Mint Bridging with 35 loans in March

by: Rebekah Commane
  • 05/04/2016
  • 0
Record month for Mint Bridging with 35 loans in March
Mint Bridging experienced a record month in March and generated an 820% year-on-year increase in its loan book in Q1 of this year.

The short-term and re-bridging lender advanced 35 loans in March, with 21 of these completed in just one day.

Earlier this month, Mint increased its maximum loan size from £1m to £5m in response to demand for larger loans. The largest loan it completed since the increase was applied is £3.5m.

Mint Bridging managing director Andrew Lazare said: “With only a handful of employees this time last year to a now 18-strong team, and additional recruits underway, I’m incredibly proud what we’ve achieved.

“Some of the completions were partly due to the new Stamp Duty changes coming into effect on the 1 April and we have to work under some real pressure to get them completed on time whilst still allowing for our lending criteria to be met on all the loans.”

The firm has forecast loans to increase by 12% per month over the course of 2016.

Paul Wertheim, operations director, said: “We have heavily invested over the past year in infrastructure systems and people. Mint Bridging has a strong and dedicated team who have worked beyond the call of duty during the latter weeks of March.

“Although hard work and long hours, we have enjoyed every moment. We continue to invest with the recent appointment of a consultant, assisting in the continuous growth of the business, looking at every minute aspect and ways to improve what and how we conduct business.”

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