Inspired Lending has provided a 9 month bridging loan facility of £230k towards the refurbishment and modernisation of a detached house in Cheshire. The works included an internal reconfiguration of the property. The loan funds also repaid existing debt against the property that was used to fund the original purchase.

The full loan funds were provided in a single tranche up front. Given the low LTV against the current property value, a Hometrack AVM was used. The borrower’s intention is to complete the works and hold the property in their portfolio long-term by refinancing the bridging loan with a buy to let mortgage.