Mint Bridging has launched a product at 65% LTV with a rate of 0.89% per month up to £400,000.
The product is fee-free on loans over £100.000 – under that it comes with an exit fee of £1,500.
Sinead Moynihan, head of sales at Mint Bridging, said: “Although April was a particularly demanding month for us, as it was for businesses of all sizes, up and down the country, we were able to undertake over 40 transactions.
“Our team working incredibly hard from their own homes, continuing to offer the great service our clients expect. What’s more, we have a strong pipeline of loans in place and can offer competitive products that meet the unique challenges of the current economic climate.
“Of the April transactions, 18 included borrowers who had development loans requiring drawdowns to keep them building – a feat we’re particularly proud of. Our goal now, as it always has been, is to support those within the property sector by providing products they can rely on and a team they can trust.”
Mint Bridging is supporting the use of desktop valuations in a bid to keep business moving.
Moynihan added: “With this latest product we aim to continue to provide strong and stable funding that meets the unique requirements of the COVID-19 crisis, and in turn allow businesses to continue to move forward during this turbulent time.”
This post has originally been featured in Property Wire.