Mint Bridging is setting up a new lender, MB (Syndicates) with former West One founder Mark Abrahams.
MBS will run alongside Mint Bridging but focus on higher value, low LTV first charge loans between £350,000 and £5m, low risk development loans, second charge loans and commercial property.
MBS wants to lend more than £100m and will have less of a London focus than Mint Bridging.
A Mint statement says the loans will be funded by experienced investors to the short term property lending market on a syndicated basis.
Mint managing director Andrew Lazare says: “For five years of building the business, we’re now seeing over 820 per cent growth compared to prior year same quarters.
“The syndication division enables us to increase funding lines, loan sizes and expand on our already rapidly-growing Greater London presence. This opportunity is a sheer victory of extreme hard work and team dedication.”
Abrahams says: “Since West One’s acquisition, many business opportunities have ventured my way.
“But what struck me is how fast Mint has grown and Andrew’s passion, determination and dedication.”