Inspired Lending introduces flexible funding facility
By Tara SammonsInspired Lending has introduced a funding facility designed for brokers working with property professionals requiring greater flexibility.
Section: Products
The company said it introduced the new product to its lending offerings after receiving requests to increase support for borrowers with flexible in-life funding requirements.
The new facility offers the following features:
• available on a first- or second-charge basis, including combinations
• can include residential, mixed-use and commercial properties
• available for up to 24 months
• rates from 0.89% per month
• funds can be drawn and repaid as often as the borrower requires during the loan term
• interest only charged on the outstanding drawn balance at any time and rolled-up monthly, with no non-utilisation fees
• maximum leverage set at 70% LTV, with net advances drawn within a limit that ensures the balance plus interest for the remaining term doesn’t exceed that level
• an initial arrangement fee of 2% based on the facility limit, alongside an annual renewal fee of 0.5% of the facility limit
Owen Bentley, sales director at Inspired Lending (pictured above), said: “This isn’t about launching a new product, but about how we work with our clients.
“Many professional investors are looking for speed, certainty and flexibility, rather than simple off-the-shelf lending.
“Our flexible funding facilities are designed to support that, giving borrowers the freedom to move quickly while working with a lender who understands their long-term objectives.”
Keywords: Inspired Lending, flexible funding facility, broker funding solutions, property professionals finance, first or second charge lending, residential mixed-use commercial, 24-month facilities, 0.89% monthly rates, draw and repay flexibility, rolled-up interest, no non-utilisation fees, 70% LTV