MBS will run alongside Mint Bridging, but will have a focus on higher-value, lower loan to value first charge loans (£350k-£5m), low-risk development loans, second charge loans and commercial property.

The lender, which is funded by experienced investors on a syndicated basis, is set to have a focus outside of London.

The lender also aims to grow the loan book to over £100m.

Andrew Lazare                                                 Mark Abrahams 
 
Andrew Lazare, Managing Director of Mint Bridging commented: “For five years of building the business, we’re now seeing over 820% growth compared to prior year, same quarters. 

Andrew stated that partnering with Mark, the former co-founder and CEO of bridging lender West One Loans, has firmly placed Mint Bridging on the map.

“The syndication division enables us to increase funding lines, loan sizes and expand on our already rapidly growing Greater London presence,” Andrew added.

“This opportunity is a sheer victory of extreme hard work and team dedication.”

Mark, who’s experience includes sitting on the ASTL executive committee board, added: “Since West One’s acquisition, many business opportunities have ventured my way, but what struck me is how fast Mint has grown and Andrew’s passion, determination and dedication. 

“The company’s track record is astounding, and this is an ideal time to take Mint to the next stage as an industry power house.” 

Mark stated that together they had a solid platform of experienced funders wanting to invest in bridging finance with an experienced team.

“This partnership makes absolute sense.  

“Andrew has created a strong infrastructure, impressive deal flow and has built a great team; these values greatly attracted me to the company.”

The syndication partnership has been piloted since January this year and has already funded several million pounds of loans to date.

West One Loans was acquired by distributor Enterprise Finance in 2014 for an undisclosed amount. Previously, it was a corporate bond trader with Salomon Brothers and JP Morgan.