Inspired Lending has completed a £1.38m bridging loan secured against three vacant industrial units in Brixton, helping a borrower settle creditors ahead of a planned property...

Inspired Lending has reduced its bridging finance rates, with pricing now starting from 0.79% per month for new lending.

Rates on the new flexible funding facility start from 0.89% per month, with terms of up to 24 months.

Inspired Lending completed the loan within ten days of issuing a decision in principle.

Planning permission included converting the main building into a large dwelling and building three detached executive homes.

Security included first and second charges on residential properties in Glasgow and Dumfries.

The loan represents 60% of the £2.75 million gross development value of the property.

This latest deal follows Inspired Lending’s recent £2m commercial-to-HMO loan in Nottingham, which funded the purchase and full residential conversion of a vacant...

The £2m facility covers 100% of both purchase and development costs.

The new rates apply immediately across all new lending.