The first charge, 12-month loan provided a 65% net day 1 LTV, increasing to 70% LTGDV, covering all costs, fees, and interest.
The project involved the acquisition and modernisation of 16 flats, with plans to create two additional units upon securing planning permission.
The borrower, a direct applicant, secured the property for £1m and intends to invest £305,000 in refurbishment and modernisation works.
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Inspired Lending agreed to fund the full refurbishment costs in tranches, supporting the borrower’s phased approach to enhancing the property.
Gavin Diamond, CEO at Inspired Lending (pictured above), commented: “This case is an excellent example of how we tailor our lending solutions to meet the needs of experienced property investors.
“By funding both the purchase and refurbishment in a flexible and phased manner, we’re allowing our client to unlock the full potential of this property.
“The borrower’s plans to seek planning permission for additional units added an exciting dimension to this project, and we’re proud to support their vision.”
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