Inspired Lending cuts bridging rates
Inspired Lending has announced rate reductions across its bridging rates, enabled by increased funding support from the Pears family.
Its first charge bridging rate now starts from 0.75% per month, down from 0.79% previously.
Meanwhile, rates for second charge bridging, heavy refurbishment, semi-commercial and commercial lending now start from 0.85% per month.
The Pears family, owners of property firm William Pears Group, recently increased backing for the lender, while retaining its private funding model with no senior debt. Inspired Lending said it would continue to price according to risk and offer cheaper pricing to selected cases.
Gavin Diamond, CEO of Inspired Lending, said: “Brokers have always valued our flexible approach, but we also know that price can play an important part in a borrower’s final decision. These reductions put us firmly in the mix for a broader range of cases.
“Crucially, we have achieved that without changing the way we lend. Our funding model still gives us the freedom to assess each case on its merits and find ways to make good deals work.
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“For brokers, it means stronger pricing now sits alongside the pragmatic underwriting and deal structure they already know us for.”
