The borrower, who owns a lowly geared portfolio 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.
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The loan will be repaid from the sale of another of the borrower’s commercial assets, which is currently on the market.
Gavin Diamond, CEO at Inspired Lending (pictured above), commented: “We’re pleased to support this case and mark our first completed loan in Scotland.
“This was a time-sensitive deal involving multiple securities and a third-party legal charge, but the borrowers had a clear strategy and a strong existing portfolio.
“It’s an excellent example of how we work with experienced clients to structure capital-raising solutions that are fast, flexible and grounded in the real value of their portfolio.”
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