Inspired Lending has provided a 12 month bridging loan to fund the purchase of an 8 bed HMO in Cornwall. The borrower was in their notice period to complete the auction purchase after being let down by another lender, so funding was needed extremely quickly.

The 1st charge facility of £225k secured against the purchased property at 70% LTV with no valuation was provided within a matter of days. Interest is to be serviced monthly from the rental income, with repayment of the loan from a refinance of the property.