Inspired Lending has reduced its bridging rates after securing increased funding support from the Pears family.
First-charge bridging finance is now available from 0.75% per month, compared with a previous minimum of 0.79%.
The lender has also cut pricing across second-charge bridging, heavy refurbishment, semi-commercial and commercial lending, with rates now starting from 0.85% per month. The changes take effect immediately.
Inspired Lending says the additional backing from the Pears family allows it to offer the lower rates while retaining its private funding model and operating without senior debt.
The lender will continue to price cases according to risk, with stronger applications able to secure lower rates.
Gavin Diamond (pictured), chief executive of Inspired Lending, says: “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.
“For brokers, it means stronger pricing now sits alongside the pragmatic underwriting and deal structure they already know us for.”
