Inspired Lending completes £980,000 developer exit facility
By Tara SammonsInspired Lending has completed a £980,000 developer exit facility secured against a newly built residential property in East Sussex.
The borrower sought funding to refinance an existing development loan and raise capital for a new site purchase.
The security was the final unsold unit of a five-home new build scheme.
The loan, provided at 70% LTV on a 12-month term, is expected to be repaid through the sale of the property.
Minor works remained outstanding at the time of drawdown.
Despite added legal complexity, including a simultaneous title transfer to a new SPV, the loan was finalised within two weeks of terms being agreed.
Gavin Diamond, CEO at Inspired Lending (pictured above), commented: “This was a fast-moving case with a few legal complexities in the mix, but we quickly understood what the borrower needed and aligned our approach to match.
“By accepting a readdressed valuation and managing the title transfer alongside the loan process, we were able to keep things on track and complete within a tight timeframe.
“It’s a strong example of how we apply a flexible, hands-on approach to deliver funding solutions when speed really matters.”
Keywords: Inspired Lending, £980, 000 developer exit facility, developer exit facility East Sussex, refinance existing development loan, raise capital new site purchase, five-home new build scheme, 70% LTV 12-month term, minor works outstanding drawdown, simultaneous title transfer SPV, loan finalised two weeks, Gavin Diamond