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

Omni Protect appoints Richard Waters as head of strategic partnerships

Omni Protect, Fintel’s whole of market protection club, has announced the appointment of Richard...

Redwood Bank awarded top green accreditation

Redwood Bank has been recognised for its continued commitment to sustainability after achieving the...

Mortgage approvals fall to lowest level since December 2023

Mortgage approvals for house purchases fell to 56,200 in May, down from 66,000 in...

Veron BS cuts self-build rates by 0.15%

Vernon Building Society has reduced rates across its entire self-build mortgage range by 0.15%. The...

LHV Bank appoints Harper Macleod as Scottish legal adviser

LHV Bank has appointed Scottish law firm Harper Macleod as its primary Scottish legal...

Latest publication

Other news

Omni Protect appoints Richard Waters as head of strategic partnerships

Omni Protect, Fintel’s whole of market protection club, has announced the appointment of Richard...

Redwood Bank awarded top green accreditation

Redwood Bank has been recognised for its continued commitment to sustainability after achieving the...

Mortgage approvals fall to lowest level since December 2023

Mortgage approvals for house purchases fell to 56,200 in May, down from 66,000 in...