Bridging lender Mint has launched a new 50 per cent loan-to-value deal requiring no valuation aimed at those seeking property finance during the covid crisis.

The product will be available until April 30 on loans up to £400,000 at a rate of 0.89 per cent.

There is no exit fee on loans over £100,000. 

Mint Bridging head of sales Sinead Moynihan says: “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 have brought to market allows people to adhere to the current Stay At 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.”

Sirius Property Finance co-founder Nicholas Christofi says: “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 while current social distancing restrictions are in place.”