Alongside a new headquarters to facilitate its increasing headcount, as well as the introduction of dual representation, the lender recently extended a block bridging facility with Aldermore.

B&C sat down with Mint’s managing director Andrew Lazare (pictured above), as well as its head of marketing Dani Briers to discuss the firm’s recent activity and the balance between growth and maintaining standards in a sometimes-trying financial landscape.

“Because we're not doing huge loans, we're a little bit protected from [the current economic climate],” said Andrew.

“I feel that the stuff we're lending on is the bread and butter of the property market, so I think we’re a little bit insulated,” he added.

“When the music stops, land doesn't sell [and] high-value properties don't sell because they're very hard to get mortgages.”

After a bumper couple of months, which included the firm’s biggest February for completions, Dani felt the results set the stage for opportunities, such as the introduction of dual representation.

“With strong performances comes the need and requirement for additional funds from an institution like Aldermore [and] the desire to do dual rep,” said Dani.

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According to Dani, the need to do dual representation came from wanting to protect both the borrower and the company, through collaboratively appointing a solicitor rather than allowing a potentially inexperienced one do the task.

However, dual rep is not the only new addition for the firm.

“The next natural stage is the continued headcount growth within the organisation,” said Dani. “We’re not just replacing people that leave, we are growing the number of people who come into the office, which is why we had to move at the back end of last year.”

In terms of valuations, the firm is keen on a boots-on-the-ground approach with its own in-house team and representatives able to “kick the tyres” of a deal. For Andrew, he has seen quite a variance between different valuations on the same properties over the past six months, which has led to Mint becoming more cautious.

“We've got some good relationships with some good valuers . . . now more than ever, it's about leaning on your trusted advisers when it comes to valuers,” said Andrew.

“Just because it's got a value, is it desirable?” Andrew continued that just because a sq ft in a particular area is worth a certain amount of money, it doesn’t necessarily mean it will add up to the actual value of the property.

For Andrew, he felt AVMs could fail to provide an accurate value by neglecting to take into account crucial details of a property, such as condition.

While Andrew appreciated the need for the timely completion AVMs can provide in some cases, he explained that sometimes the process would require extra care and attention.

“Sometimes you need to take a step back [and] process that transaction. And yes, sometimes time is important, and other times it just needs to be done with a clear mind.”