The client had bought a property in London that required a full renovation using a bridging loan in December 2015. They planned to fix up the property quickly and sell it on.

However, due to unforeseen circumstances, the work took longer than expected, which meant the client needed a financial solution as the loan term end approached.

The current lender would only extend the loan at a high rate of interest, as well as charging additional fees.

The client wasn’t looking for any additional funding. They just needed to repay their current lender and wanted retained interest for the period of the loan.

Mint’s valuation team found that the property was now worth £700,000 following the completion of the renovation, up from the £355,000 that the client purchased it for.

Mint therefore looked at the case and immediately took action as the client had a tight timeframe and needed to proceed fast.

The underwriting team rapidly processed the case and within 48 hours the client was in receipt of a formal offer and legal teams were instructed to complete the deal.

“Mint Bridging prides [itself] on hand holding clients through the process,” explained Paul Wertheim, operations director at Mint Bridging.

“In this case, it was a matter of financially assisting this client at the end.

“If we hadn’t stepped in, all the hard work the client endured since the start would have been potentially futile.

“Being there at any step of the way to see a positive outcome is important to us. We’re pleased the client saw their final, intended results.”