Mint Property Finance: products, terms and eligibility

Mint Property Finance is a UK provider of property development finance. The legal entity named on its site is Mint Bridging Limited (trading as Mint Property Finance), company number 07567483. It is based in Altrincham. It gives its founding year as 2011.

Mint Property Finance was founded in 2011 and describes itself as a national specialist property lender. It is a trading name of three companies registered in England and Wales: Mint Bridging Limited (07567483), MB (Syndicates) Limited (09668684) and Mint Bridging (2) Limited (12574069), all with a registered office at Peel House, 30 The Downs, Altrincham, Cheshire WA14 2PX. Its site refers to a 15-year milestone and says it has continued to invest and grow.

Everything on this page comes from what Mint Property Finance publishes itself. We show the date we last checked it, and we do not rate or rank lenders.

Mint Property Finance publishes 3 products for UK businesses. The table above gives the amounts and terms as it states them.

• Bridge: Interest can be serviced or deducted.
• Refurb: Interest can be serviced or deducted.

Bridge

First charge bridging loans of £75,000 to £3,000,000, up to 75% loan-to-value, with no minimum term. Interest can be serviced or deducted. Second charge loans are accepted behind a UK Finance member’s first charge. The lender says it considers all types of borrower, including those with heavy adverse credit where the exit is a property sale.

Refurb

Refurbishment loans on residential kerbside houses and flats, with no minimum term and a maximum of 12 months. Leverage is up to 75% loan-to-value, or up to 90% day one on the higher tier. Interest can be serviced or deducted. Its criteria page describes light, medium and heavy works categories, each requiring a schedule of works.

Development

Development loans of £75,000 to £3,000,000 up to 70% loan-to-value on day one and 65% of gross development value, covering up to 100% of construction works. First-time developers are accepted, and schemes of up to 4 houses or 6 flats are described on the products page. A project monitoring surveyor and building control sign-off are required, and the lender says it uses a panel of valuers, solicitors and portfolio managers.

Mint Property Finance says its finance is used for:

• Property purchase bridging
• Auction purchases
• Refurbishment of residential property
• Ground-up development
• Garden plots and commercial-to-residential conversions
• HMO projects up to 6 beds

Sectors and business types it says it funds:

• Residential and semi-commercial property investors
• Developers including first-time developers
• Landlords including HMO owners

What it says it does not fund:

• Active religious buildings
• Trading care homes, nursing homes, pubs, hotels and B&Bs
• Grade I listed properties
• Mobile homes, caravans and houseboats
• Properties with EPC rating F or G
• Unregistered land
• Property outside mainland England, Wales and the Isle of Wight
• Regulated buy-to-let (property occupied by the borrower or family)

Mint Property Finance publishes these criteria. Meeting them does not mean an application will be accepted: every lender makes its own decision.

• Individuals, partnerships, sole traders, limited companies and LLPs, UK and non-UK corporate entities.
• Development: schemes of up to 4 houses or 6 flats; first-time developers accepted.
• Applicants aged 18 to 70, with lending beyond 70 considered where exit is by sale.
• Heavy adverse credit considered where exit is sale.
• Properties in England and Wales.

Mint Property Finance describes its process like this:

1. Submit a signed application form and complete electronic ID verification.
2. Provide bank statements, a credit report and an asset and liabilities statement.
3. The lender instructs a valuation (automated or physical panel valuation) and assesses the exit strategy.
4. Both sides instruct separate solicitors.
5. A Mint representative holds a pre-completion conversation before drawdown.
6. A portfolio manager is assigned after drawdown.

Information it says it asks for:

• Signed application form
• Electronic ID verification
• Three months' bank statements
• Credit report
• Asset and liabilities statement for all applicants and guarantors
• Income evidence (payslips, SA302 or accountant-prepared accounts as applicable)
• Schedule of works and milestones for refurbishments
• Planning approval and building warranty for development

Every application is subject to status and the lender’s own criteria at the time.

Development finance funds the purchase of a site and the cost of building or converting it, with the build money released in stages as work is completed and inspected. The loan is usually repaid from sales or by refinancing the finished property.

Lenders assess the developer’s experience, the costs and the expected end value, and set the loan against both. Understanding how lenders differ before you compare offers helps when weighing terms.

Points Mint Property Finance publishes that are worth knowing:

• Credit-backed terms are issued after an initial underwrite rather than a quick decision in principle.
• Second charge loans considered; not generally lending to applicants currently in an IVA.
• Where the loan is not repaid within the agreed term an exit fee may be charged.
• Says it is not a member of any Alternative Disputes Resolution Scheme.

Security and guarantees

Loans are secured by a first charge on the property, with second charges considered behind UK Finance members' first charges. Third-party charges are acceptable where the chargor is separately advised and is a guarantor or a director or shareholder of the borrower. The lender says all its lending is interest only, with interest either deducted at completion or serviced monthly. An exit strategy is required for every loan.

Mint Property Finance’s site states: “Mint Property Finance is a trading name of the following companies: Mint Bridging Limited (Company No 07567483), MB (Syndicates) Limited (Company No 09668684) and Mint Bridging (2) Limited (Company No 12574069). All companies are registered in England and Wales and have their registered offices at Peel House, 30 The Downs, Altrincham, Cheshire WA14 2PX.”

Protections differ by borrower type and loan size. Most lending to limited companies is not regulated consumer credit, so read the agreement and ask the lender what applies to you.

Other providers of property development finance with profiles here include PMJ Capital, Signature Property Finance and Affirmative Finance. Each profile uses that lender’s own published terms.

The full list, grouped by product type, is in our directory of UK business lenders.

Capzy is a credit broker, not a lender, and gets paid by the lender. One application lets your business compare options across lenders, so you can weigh this kind of facility against the alternatives. You can check your funding options with a soft search that does not affect your credit score. A full application to a lender may involve a hard search, and any offer is subject to status and lender criteria.