Inspired Lending has reduced rates across its bridging range, with pricing for new lending now starting from 0.79% a month.
The lender said the new minimum rate is down from 0.89% a month and applies with immediate effect across all new business.
Inspired Lending said the move is aimed at investors and developers with more straightforward cases who are seeking short-term funding for purchases, refurbishments and capital raising.
The change follows the lender’s recent introduction of a flexible funding facility for property professionals with existing portfolios, designed for borrowers looking for more structured funding rather than a standard product.
Gavin Diamond (pictured), chief executive of Inspired Lending, said: “Our introducers are recommending us to more and more borrowers with straightforward, lower LTV deals and we feel there is an opportunity to attract even more of this type of business.
“This rate cut is a reflection of our appetite to provide more of these types of borrowers with access to our pragmatic, solutions-focused approach.”
Inspired Lending said it continues to work with brokers across residential, commercial and mixed-use property, and has expanded its team as it looks to grow its presence in the short-term lending market.
