"To date, we, along with a lot of our competitors, have been focused on sub-million-pound loans. We are seeing increasing demand for higher value loans particularly within the M25."
The product is designed to satisfy increasing demand for loans of a greater value as well as a higher LTV within predominantly the M25 boundary.
The high-value bridge has a £5m maximum loan size up to 70% LTV.
It is available on all residential kerbside houses and flats, with all types of borrowers considered, including foreign nationals. As with Mint’s other Bridging products, there are no minimum terms and cosmetic works are permitted.
The launch is the fourth in a series of new products from the privately funded lender, including its standard bridge up to 85% LTV with rates from 0.40% pm, its light works with up to 75% GDV and rolled up interest available, and a Scotland bridge with rates from 0.40% pm on loans ranging from £75,000 to £1,000,000.
Founder and managing director of Mint Property Finance, Andrew Lazare, said: “To date, we, along with a lot of our competitors, have been focused on sub-million-pound loans. We are seeing increasing demand for higher value loans particularly within the M25.
“As we continue to significantly grow our business, along with our funding, we are in a position to satisfy that appetite for higher value lending with the launch of our high-value bridge; further strengthening our foothold in the South.”