Inspired Lending has provided a £250,000 net second charge loan to a personal borrower in Cheshire, enabling them to reduce the balance on a development finance facility attached to a completed scheme held within an SPV in which they are a fifty per cent shareholder.
The borrower required rapid support while preparing for the planned sale or refinance of the finished development.
The lender completed the loan within ten days of issuing the decision in principle, allowing the borrower to progress without delay.
To streamline the process, Inspired Lending accepted the existing valuation on the borrower’s main residence, removing the need for a new report and avoiding additional cost and time.
The lender also worked with the borrower to agree a clear repayment strategy based on the disposal or refinance of the SPV’s completed asset.
Inspired Lending provides short-term funding for residential and commercial property transactions, including acquisition, refurbishment, conversion, development exit and capital raising.
Nathan Wilson, lending manager at Inspired Lending, said: “Cases like this show why experience matters.
“The borrower needed a lender who could look at the complete picture and back a plan that made sense.
“We knew the development was complete, the exit options were clear, and the timescale was tight.
“Our team moved at pace, accepted the historic valuation, and gave the borrower a result that kept their wider plans on track.”
