Inspired Lending has announced that it has completed a £2.1 million bridging facility, enabling the borrower, an experienced landlord, to restructure their portfolio.
The loan, provided at 70% LTV over a six-month term, was secured by first legal charges over a portfolio of residential buy-to-let properties. The assets were previously held in a mix of personal and company names.
The borrower approached Inspired Lending for funding to refinance the existing BTL mortgages and transfer ownership of the properties into a single corporate entity.
The facility was structured to allow repayment via refinance once the portfolio has been fully moved into the new company name.
“This was a complex restructure requiring clear coordination across multiple ownership structures and legal entities, as well as getting to grips with SDLT requirements," said Inspired Lending CEO, Gavin Diamond (pictured).
He added, "By working closely with the borrower’s advisers and our own professional partners, we were able to put a tailored facility in place within a short timeframe to support their long-term investment plans.”
