Short-term property finance provider Mint Bridging has introduced a new product for April designed to operate during the current Coronavirus crisis.
It is aimed at borrowers seeking loans for kerbside residential properties, as well as town and city locations.
Available for those seeking loans up to the value of £400,000, until 30 April, the product requires no valuation, has a maximum loan-to-value ratio of 50% and a rate of 0.89%.
In addition, there is no exit fee for loans over £100,000.
Sinead Moynihan (pictured), head of sales at Mint Bridging, said: “After carefully reviewing the marketplace, in light of Covid-19, we felt that there was a need for a product that met the unique demands of this crisis.
“The new product that we’ve brought to market allows people to adhere to the current Stay Home policy, as no valuation is needed, and all necessary legal work can be done remotely, e.g. via video conferencing. It provides a workable solution for those struggling to find funds, and we hope will allow many to continue to work and maintain business during this difficult time.”
Nicholas Christofi, co-founder of SIRIUS Property Finance, added: “It’s great to see a company like Mint Bridging bringing a realistic and workable product offering to market, at a time when many are struggling to overcome the impact of Covid-19.
“We hope others will follow suit and look to offer viable solutions to maintain business during the lockdown and whilst current social distancing restrictions are in place.”