Following the news that a Manchester-based bridging firm had hired a new Business Development Manager three weeks ago, B&C has learnt that the move has seen enquiry levels boom by over 200 per cent.

Jason McGee-Abe spoke to Andrew Lazare, Director at Mint Bridging, to discuss how the lender’s new recruit has made such an immediate impact. Andrew also shared some of the company’s future plans with us...

Mint Bridging was established in 2012 and initially promoted its products and services to a  small number of select brokers, This ‘soft launch’ was decided upon, to test the systems and process in order to ensure the creases in the model had been ironed out, before its products and services were rolled out to the wider market.

This careful and methodical planning has worked well and business has definitely ramped up a gear following the recruitment of Danny Power as its Business Development Manager.
 
Andrew told B&C: “We have meticulously planned the development of our model and spent considerable time in recruiting the correct people to join our team.

"It took us a long time to source and recruit the right BDM for the business, it was important that the successful applicant, possessed not just sound experience, but carried with them the ethos and values of our company.

“We wanted someone who knew the industry inside out and whom brokers and introducers had strong, trusted relationships with.

“Danny’s expertise and relationships with brokers and introducers is first class. He has had a significant direct impact on our business from the day he started. Our enquiry levels have grown by over 200 per cent since he started working for us three weeks ago.”

Danny has over 20 years’ experience in the financial services industry and joined Mint Bridging from Bridgebank Capital, where he worked in a number of specialist property and finance roles during a two-year period. Prior to that, Danny worked at another bridging lender, Precapita.

Danny explained, “I’ve certainly hit the ground running.”

He added: “Since joining Mint Bridging, I’ve retained a number of broker clients, re-established old relationships and indeed kindled some quality new business and leads for the company.

“I’ve been in the industry for a long time and having had a broker background before I became a BDM, I understand the problems brokers face every day.

It’s also been great to work with a lender which takes a different view and stance on bridging. Andrew’s thoughts, ideas and can-do approach to lending is great to see and I have learnt a lot in a short space of time.

As a privately-funded lender, with significant funds available to lend, we are able to be flexible in our approach and the Mint Bridging message is being warmly and well-received by the broker community and I look forward to the future with huge excitement.”

Andrew also stated: “We have five members of staff at present and have recently moved into larger premises with scope for a larger team.

"By the end of the year, I would like to add a further two people to our business development team and we are currently recruiting some more support and underwriting staff to help us cater with the increased demand for our products and services from brokers and introducers."

In terms of future business levels, Andrew disclosed that his aim is to grow the loan book to between £40 million to £50 million within the next three years. Plans are already being drawn up to provide other types of loans, including 2nd charge loans, term loans, development loans and Mint Bridging will shortly start lending in Scotland.

In due course it also intends to commence the process of FCA regulation, to provide regulated mortgage contracts but that something that is a medium to long term desire once the business is more established.

Mint Bridging currently offers 1st charge, bridging loans from £27,500 up to £1 million, and can facilitate funding over this limit depending on the deal through its syndicated investors and corporate finance partners.