Inspired Lending provides largest loan to date with £5.7m refinance and refurb facility
By Elliot TophamInspired Lending has provided its largest loan to date, with a £5.7 million facility to refinance and refurbish a mixed-use freehold investment property in Shepperton, North Surrey.
Section: Case Studies
The property comprises 11 retail units and 25 residential flats, while the facility was provided over an 18-month term.
The loan was designed to refinance the borrower’s existing high-street lender and provide £1.3m for the refurbishment of the residential units at the primary security — refurbishment funds will be delivered in a series of tranches.
The loan facility was structured at a loan-to-value (LTV) ratio of 61% net on Day 1 and 64% LTGDV, and secured with additional residential and commercial properties from the borrower’s portfolio in addition to the primary security.
The deal involved an offshore parent company with shareholding held in trusts.
Gavin Diamond, CEO at Inspired Lending (pictured above), commented: “This £5.7m deal underscores our capability to handle complex, high-value transactions and highlights the strength of our relationships, which are built on a track record of delivery and our ability to apply a personal touch.
“We worked closely with the borrower and their advisors, taking a bird’s-eye view of the case to develop a tailored funding solution that ensures the successful completion of the project.”
Keywords: Inspired Lending, largest loan, £5.7 million facility, refinance, refurbish, mixed-use freehold investment, Shepperton, North Surrey, 11 retail units, 25 residential flats, 18-month term, refinance high-street lender