Inspired Lending has completed a £1.1m bridging facility to support the purchase and refurbishment of a large detached house in South Yorkshire.

The property, which had suffered significant structural movement had been stripped back almost entirely at the time of purchase. While a structural survey confirmed the building was sound, remedial work was required, including the partial reconstruction of some external walls.

By securing the facility against the property being purchased, alongside a second charge on another asset owned by the borrower, Inspired Lending was able to provide 100% of the purchase price as well as the full refurbishment cost of £385,000, drawn down in tranches.

Read full article