Lender saves Sheffield development
By Tom WrightPrivately-backed specialist lender Mint Bridging has provided a £150,000 loan to rescue a development project in Sheffield…
Privately-backed specialist lender Mint Bridging has provided a £150,000 loan to rescue a development project in Sheffield.
The developers had intended to convert and extend a closed down pub to create two terraced houses to sell on.
However due to unforeseen structural issues and poor project management, costs of the project soared, the development stalled, and one of the clients walked away.
At this point, Mint stepped in to provide additional funding, its professional team took over the management of the site and it appointed new contractors.
The client said: “I was under enormous pressure from tradesmen and suppliers because of all the problems.”
“It was amazing that Mint’s owner and members of his professional team would come out to provide reassurance to me and my family.
“It really meant a lot to me to have that personal attention and level of professional care.”
Richard King, Business Development Manager at Mint Bridging, added: “At Mint we firmly believe that we do more than just lend to people, we invest in them and their projects.”
“Property development, by its very nature, is rarely straightforward and it is important to stand by borrowers and work with them when issues arise.
“In this case, we extended the term, lent more money, and put our team in to get the project delivered.”
Keywords: mint bridging, mint, sheffield, loan, medianett, bridging and commercial, richard king, property development, development loan
Source: Bridging & Commercial — https://bridgingandcommercial.co.uk/lender-saves-sheffield-development