Inspired Lending has completed its first loan in Scotland, providing a £360,000 facility to an experienced property investor.

The borrower, who owns a lowly geared portfolio of residential and commercial properties across Scotland, needed to release equity to fund the purchase of a site in Dumfries with outline planning permission for a new mixed-use scheme. They had secured the land at auction and required a short-term solution to complete the transaction.

Security was provided by way of first and second charges across two residential investment properties — one in Glasgow and the other in Dumfries — including a third-party legal charge.

Read full article