Inspired Lending provides £5.7m refurb loan facility

Published on

Inspired Lending has completed its largest loan to date, providing a £5.7 million facility over an 18-month term to refinance and refurbish a prime mixed-use freehold investment property located in Shepperton, North Surrey.

The property comprises 11 retail units and 25 residential flats which forms a key part of the location’s high street landscape.

The loan was designed to refinance the borrower’s existing high-street lender and provide £1.3 million for the refurbishment of the residential units at the primary security. Refurbishment funds will be delivered in a series of tranches.

Secured with additional residential and commercial properties from the borrower’s portfolio in addition to the primary security, the loan facility was structured at a loan to value (LTV) ratio of 61% net on Day 1 and 64% LTGDV. The deal’s complexity included an offshore parent company with shareholding held in trusts.

The borrower was introduced to Inspired Lending by their business advisers, who have a long-standing relationship with Gavin Diamond, CEO of Inspired Lending, going back over 15 years. The borrower’s exit strategy includes a combination of property sales and refinancing, ensuring a clear path to loan repayment.

Diamond (pictured) said: “This £5.7 million deal underscores our capability to handle complex, high-value transactions and highlights the strength of our relationships, which are built on a track record of delivery and our ability to apply a personal touch.

“We worked closely with the borrower and their advisors, taking a bird’s-eye view of the case to develop a tailored funding solution that ensures the successful completion of the project. This is a perfect example of how we go beyond traditional lending, using our expertise to deliver bespoke financial solutions.”

Latest POLL

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

Mortgage advisers failing over-50s on later life lending, Key warns

Mortgage advisers are not doing enough to support over-50s with later life lending options,...

Kuflink announces leadership change as CEO steps down

Kuflink has announced that CEO Narinder Khattoare will step down, marking the end of...

Norton Home Loans partners extends access to specialist solutions

Norton Home Loans has partnered with broker London & Country (L&C) Mortgages to widen...

Hinckley & Rugby for Intermediaries expands remortgage service with PEXA

Hinckley & Rugby for Intermediaries is expanding its partnership with PEXA and Optima Legal,...

Other news

Mortgage advisers failing over-50s on later life lending, Key warns

Mortgage advisers are not doing enough to support over-50s with later life lending options,...

Kuflink announces leadership change as CEO steps down

Kuflink has announced that CEO Narinder Khattoare will step down, marking the end of...

Norton Home Loans partners extends access to specialist solutions

Norton Home Loans has partnered with broker London & Country (L&C) Mortgages to widen...