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We present an explicit string realisation of a cosmological inflationaryscenario we proposed recently within the framework of type IIB fluxcompactifications in the presence of three magnetised D7-brane stacks.Inflation takes place around a metastable de Sitter vacuum. The inflaton isidentified with the volume modulus and has a potential with a very shallowminimum near the maximum. Inflation ends due to the presence of "waterfall"fields that drive the evolution of the Universe from a nearby saddle pointtowards a global minimum with tuneable vacuum energy describing the presentstate of our Universe.

Hybrid inflation and waterfall field in string theory from D7-branes