Inspired Lending has completed a £2m loan facility to support the purchase and residential conversion of a vacant former office building in Nottingham.

The facility was structured to provide 100% of both the purchase price and development costs, using additional security by way of third party 2nd charges.

The funding will enable the borrower to transform the property into a number of six-bed HMOs, with the £900k works budget released in tranches as the project progresses.

Read full article