Inspired Lending and Life Financial Solutions facilitate £934k Loan Facility for residential development scheme application

18 October 2024

Inspired Lending has provided a £934,000 loan facility to refinance a tenanted residential investment property in Kent.

The deal was structured as a 1st charge with an 18-month term at 72% Loan-to-Value (LTV), with the borrower servicing the interest on a monthly basis.

The property is a large Grade II listed, two-storey detached main house with a detached one-bedroom annexe, set on approximately five acres of land. The borrower, who owns three additional investment properties and runs a successful business, was awaiting planning permission for a new build development scheme on the site. The intention was to sell the property with enhanced value once the planning approval was secured.

The loan provided by Inspired Lending offered the borrower flexibility, enabling them to proceed with their development plans while managing their property portfolio. This refinancing also gave the borrower the opportunity to capitalise on the anticipated uplift in the site’s value after planning approval.

Danny Sovitch, Co-Founder at Life Financial Solutions, commented:

“Inspired Lending’s ability to understand requirements, move quickly and offer a tailored loan facility was exactly what the borrower needed in this situation. The refinancing has positioned the client to maximise the property’s potential, while providing the time needed to finalise planning permissions.”

Gavin Diamond, CEO at Inspired Lending, said:
“This case is a perfect example of our ability to provide flexible, bespoke financing for complex property deals. We’re pleased to have supported the borrower with a solution that meets their short-term needs while enabling them to plan for the long term.

“Our expertise in delivering tailored funding solutions continues to make a difference for clients seeking value-added lending options.”