Inspired Lending has provided a £250k net second charge loan to a personal borrower in Cheshire, enabling them to reduce the balance on a development finance facility on a completed scheme held within an SPV in which they are a 50% shareholder.

The borrower needed rapid support while preparing for the planned sale or refinance of the finished development. Inspired Lending accepted the existing valuation on the borrower’s main residence, removing the need for a new report and avoiding additional cost and time.

The loan was completed within ten days of issuing the decision in principle, allowing the borrower to progress without delay.

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