Earlier this month, Funding Circle announced it had taken the decision to focus on its core small business lending product in the UK and other markets and would scale down new property development lending, expecting to stop all lending by mid-2018.
Sinead Moynihan, head of sales at Mint Bridging, said the news from Funding Circle “has opened new business doors for Mint”.
“We’re seeing an influx of borrowers and we’re fully equipped to handle the new enquiries and conversions. This is a great opportunity for new clients to see Mint’s flexibility and the level of service they offer from the initial enquiry through to the full loan term,” she said.
Mint Bridging is a privately funded bridging lender, offering first charge bridging, re-bridging, development, refinance and second charge short-term residential and commercial property loans up to £5m.
Today bridging brokers and lenders reported that there is a swing towards regulated lending in the market. Despite a drop in lending from Q4 2016, they are confident of a strong pipeline for Q2.