Inspired Lending has helped a high-net-worth borrower with their short-term business cash flow requirements by providing a bridging loan facility of £720k.
The 12-month loan was secured by way of a second charge at 53% LTV against a large residential property in Surrey worth in excess of £9m. The valuation and legals were instructed simultaneously to facilitate a fast drawdown.
The loan is to be repaid through proceeds from the sale of their unencumbered holiday home in Spain.
Gavin Diamond (pictured), CEO at Inspired Lending, said: “This case demonstrates our commitment to making common sense lending decisions on a great case with a fully committed client who knew exactly what they needed, why and had an easily deployed exit prepared.
“It also makes a huge difference when all parties are in complete alignment and so a huge thanks should go to Jake at SPF Private Clients for introducing the case to us, along with also the valuation partner, the solicitors and of course, the client.”
Jake Manns-Benson, associate director at SPF Private Clients, added: “We’ve completed several deals with Inspired Lending and working with the team has been a pleasure from the start. Our longstanding relationship with Gavin and Owen has given us the utmost confidence and trust in their ability to deliver, and this case was no exception.
“They were proactive in tailoring the best outcome for our client, while keeping the process simple and transparent at all times. We appreciate their commitment to getting this deal done quickly and easily. and I look forward to working with them on future deals.”
