Inspired Lending lowers bridging rates following increased Pears family support
By Tara SammonsIncreased private funding support helps deliver more competitive rates
Section: Products
Inspired Lending has reduced its bridging rates following increased funding support from the Pears family who provide private funding for the lender.
First-charge bridging finance is now available from 0.75% per month, down from the previous minimum of 0.79% per month.
Rates for second-charge bridging, heavy refurbishment, semi-commercial and commercial lending now start from 0.85% per month, with the new pricing available immediately.
The increased backing from the Pears family enables Inspired Lending to offer the new pricing while retaining its private funding model, with no senior debt.
The lender will continue to price according to risk, with stronger cases able to secure cheaper pricing.
Gavin Diamond, CEO at Inspired Lending (pictured above), said: “Brokers have always valued our flexible approach, but we also know that price can play an important part in a borrower’s final decision.
“These reductions put us firmly in the mix for a broader range of cases.
“Our funding model still gives us the freedom to assess each case on its merits and find ways to make good deals work.”
Keywords: Inspired Lending, bridging finance, bridging loan rates, first charge bridging, second charge bridging, heavy refurbishment finance, semi commercial lending, commercial lending, private funding model, Pears family funding, Gavin Diamond, bridging finance lender