Inspired Lending is a joint venture with the Pears family, who are widely recognised in the real estate industry for investing in and financing property finance businesses. They will provide the funding for Inspired Lending.
The lender will offer unregulated bridging, refurbishment finance and bespoke short-term funding solutions.
Diamond is CEO of Inspired Lending and brings over 15 years of experience in the short-term and specialist lending sectors. Before heading up Spring Finance for 10 months, he worked at United Trust Bank for nine years, most recently as director of bridging finance.
Owen Bentley has joined Inspired Lending for its launch, taking on the role as sales director.
He and Diamond have worked together in the past, with Bentley working as head of sales – bridging at Spring Finance for eight months. Before that, he worked at United Trust Bank for four years, most recently as its head of sales – bridging.
Diamond said: “I am very excited about the new venture and very proud to have received the backing of the Pears family. The private funding is critical to our success. It provides a unique opportunity to combine our extensive lending experience and track record of delivering for brokers and customers with innovative and decisive decision-making, enabling deals to be funded quickly and efficiently. No credit committees. No funding line covenants. No ‘one-size-fits-all’ approach.”
“In a crowded market, we believe we can offer simple, speedy, bespoke funding solutions at a competitive price, with a real personal touch. I’m confident this will enable us to create a niche for ourselves.”
Initially, the lender will offer loan facilities up to £5m secured against residential, commercial, semi-commercial and industrial properties in England and Wales, typically up to 18 months in duration, with plans to widen the scope over time.
Jonathan Rose, managing director of Pears Property Advisors, added: “We are delighted to be supporting Gavin in the new venture. This is a sector where both Gavin and ourselves have vast experience over a number of years.
“Despite a competitive market, we believe this new venture has all the ingredients to be a resounding success.”