Inspired Lending has provided a £934,000 loan facility to refinance a tenanted residential investment property in Kent.

The 18-month deal, which was provided with Life Financial Solutions, was set at 72% LTV, with the borrower servicing the interest on a monthly basis.

The property comprises a grade II listed, two-storey detached main house, with a detached one-bedroom annexe, on approximately five acres of land.

The borrower, who also owns three additional investment properties, was awaiting planning permission for a new build development scheme on the site, with the intention of selling the property with enhanced value one the planning approval was secured.

The loan provided by Inspired Lending offered flexibility for the borrower, allowing them to proceed with their development plans while managing their property portfolio.

The refinancing also gave the borrower the opportunity to capitalise on the anticipated uplift in the site’s value after planning approval.

Co-founder at Life Financial Solutions, Danny Sovitch, said: "Inspired Lending’s ability to understand requirements, move quickly and offer a tailored loan facility was exactly what the borrower needed in this situation. The refinancing has positioned the client to maximise the property’s potential, while providing the time needed to finalise planning permissions."

Chief executive officer at Inspired Lending, Gavin Diamond, added: "Inspired Lending’s ability to understand requirements, move quickly and offer a tailored loan facility was exactly what the borrower needed in this situation. The refinancing has positioned the client to maximise the property’s potential, while providing the time needed to finalise planning permissions."

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