Inspired Lending delivers £1.2m development exit facility for Fulham residential conversion

Inspired Lending has completed a £1.2m loan facility for a property developer, secured against a newly converted terraced house in Fulham.

The first-charge loan was provided at 70% LTV.

The property had been extended and converted into two self-contained flats under planning permission, with both units completed and brought to market.

At the point of completion, one of the flats was already under offer.

The nine-month facility was structured to refinance the existing lender while also providing additional working capital to support the borrower’s ongoing projects.

The agreed exit strategy is the sale of both units.

Gavin Diamond, CEO at Inspired Lending (pictured above), commented: “In practice, short-term funding often needs to do more than simply refinance, it needs to support how capital is managed across a borrower’s wider pipeline while sales are progressing.

“With one unit already under offer and both flats completed, the focus was on structuring the facility in a way that gave the borrower the time needed to achieve the right sale outcomes, without slowing momentum across their other projects.

“By fully understanding both the asset and the exit strategy, we were able to deliver a facility that addressed the immediate requirement while supporting the borrower’s ongoing activity.”