The lender’s client was an experienced entrepreneur, but made the mistake of leaving one of his companies in the hands of two fellow directors. 

They caused the business to run up an £800,000 bad debt to an aggressive, multinational corporation.

This led to the client being petitioned for bankruptcy if the debt wasn’t paid.

The case was originally offered to another lender, but despite gaining a satisfactory valuation on the property used as security – a serviced office block – they walked away once they learned about the petition. 

With only three weeks to get the loan drawn, Mint offered security over the office block, which had been owned and operated by the client for a number of years, along with a buy-to-let property owned by his daughter. 

Mint’s in-house solicitors were instructed straight away as they worked alongside Richard Showman, head of underwriting, who co-ordinated with all parties as Mint delivered the loan on time.

Richard King, business development manager at Mint, said this loan showed that when seeking a lender to partner with, the cheapest was not always the best. 

“In this case, the client lost valuable time because he initially went with a cheap offer. 

“Mint is privately funded; we take pragmatic, commercial views on deals, and most importantly, deliver for our brokers and borrowers.”

Andrew Lazare, managing director of Mint Bridging, concluded: “In this situation, we had a client with good security, and a good track record in business, baring this one mistake. 

“Furthermore, he also put a large chunk of cash into the deal. 

“As the other lenders rejected it, this deal landed [at] our door and it validated our tight-knit team [that they] could produce a positive outcome.”