Inspired Lending funds restructuring of £1.3m complex portfolio

Published on

Inspired Lending has provided a six-month bridging loan facility of £1.3m secured against multiple properties at a LTV of 68%.

The loan facilitated a complex refinancing and restructuring of the borrower’s portfolio.

The loan allowed the borrowers to repay existing borrowings and move their properties from personal names into a corporate structure. This also freed up other portfolio properties for development projects.

The transaction involved multiple lenders and had several legal challenges to overcome. With the properties now in a new corporate vehicle, the borrower will obtain refinance to repay their bridging loan.

Gavin Diamond (pictured), CEO at Inspired Lending, said: “The key to this case was to quickly understand all the challenges that were faced, so that a solution could be provided, and, in my experience, many lenders faced with some of the issues we came across would have walked away.

“However, we knew it was a great deal, which included a client with a clear need and way to exit the facility safely and quickly. Deals like this cement our belief in our proposition as a common-sense bridging lender, who are bringing bridging back to basics.”

COMMENT ON MORTGAGE SOUP

We want to hear from you!
Leave a comment and get the conversation started.
You need to register to post, so please login or sign up below.

Latest articles

Brokers urged to support landlords ahead of EPC reforms

Mortgage brokers are being urged to take a more active role in helping landlord...

Quarter of adviser firms already discussing Mayfield Review

One in four UK adviser firms are already discussing the Mayfield Review and its...

Perenna reduces five-year fixed mortgage rates

Perenna has cut rates across its five-year fixed mortgage range, with reductions of up...

Step One Finance removes early repayment charges and broadens criteria

Specialist consumer lender Step One Finance has introduced zero early repayment charges across its...

LendInvest eases residential criteria and cuts mortgage rates

LendInvest has announced changes to its residential lending criteria alongside rate reductions across parts...

Latest publication

Other news

Brokers urged to support landlords ahead of EPC reforms

Mortgage brokers are being urged to take a more active role in helping landlord...

Quarter of adviser firms already discussing Mayfield Review

One in four UK adviser firms are already discussing the Mayfield Review and its...

Perenna reduces five-year fixed mortgage rates

Perenna has cut rates across its five-year fixed mortgage range, with reductions of up...