Inspired Lending has completed a £240,000 bridging loan for a UK national living and working in the United States.
The 12-month facility was secured against a tenanted buy-to-let property in Surrey at 50% loan-to-value.
The loan was structured to refinance the borrower’s existing buy-to-let mortgage, while also raising additional capital to support business cashflow requirements.
The case was progressed using a desktop valuation, supported by an internal property inspection. Documentation was executed through DocuSign to help streamline the process for the overseas borrower.
The agreed exit strategy is the refinance of the buy-to-let asset onto a longer-term facility.
Inspired Lending said the transaction required a practical underwriting approach, balancing the security of a well-performing tenanted asset with the borrower’s need to access capital quickly, while managing the added complexity of an overseas income profile.
Gavin Diamond, chief executive of Inspired Lending, says: “Cases involving overseas borrowers tend to test whether a lender can move beyond a standard process and look at the fundamentals properly.
“In this instance, the asset was stable, the tenancy provided ongoing income, and the exit via refinance was clear, so the focus moved to how quickly that capital could be made available without introducing unnecessary friction.
“What often matters in these situations is not just access to funding, but how that funding is structured around what the borrower is trying to achieve outside of the property itself, particularly where capital is being redeployed into a business. That requires a level of judgement which goes beyond surface level assessment.
“By keeping the underwriting focused on the strength of the security and the credibility of the exit, we were able to complete efficiently while still maintaining the level of scrutiny you would expect in the current market.”
