Inspired Lending has provided a £934,000 loan facility to refinance a tenanted residential property in Kent.
The deal was structured as a first charge with an 18-month term at 72% loan-to-value (LTV), with the borrower servicing the interest monthly.
The property was a large Grade II listed, two-storey detached main house with a detached one-bedroom annexe, set on roughly five acres of land.
The borrower, who owns three other investment properties and operates a successful business, was waiting for planning permission for a new development scheme on the site.
The goal was to sell the property for a higher value once the planning approval was in place.
The loan allowed the borrower to pursue development plans while managing their property portfolio.
This refinancing also gave the borrower a chance to benefit from the expected increase in the site’s value after obtaining planning approval.
Danny Sovitch (pictured, left), co-founder at Life Financial Solutions, said: “Inspired Lending’s ability to understand requirements, move quickly and offer a tailored loan facility was exactly what the borrower needed in this situation.
“The refinancing has positioned the client to maximise the property’s potential, while providing the time needed to finalise planning permissions.”
Gavin Diamond (pictured right), CEO at Inspired Lending, said: “This case is a perfect example of our ability to provide flexible, bespoke financing for complex property deals.
“We’re pleased to have supported the borrower with a solution that meets their short-term needs while enabling them to plan for the long term.
“Our expertise in delivering tailored funding solutions continues to make a difference for clients seeking value-added lending options.”
