REIM Capital has completed a £225,000 residential bridging loan within four days of application.
The facility was secured against a residential investment property in Worcester and was structured to provide the borrower with fast access to capital for a new commercial opportunity.
The 12-month loan was completed at 75% LTV, with the borrower raising funds against an unencumbered residential investment property.
The capital will support a supply arrangement with a European wholesaler, enabling the borrower’s existing business to increase inventory and support distribution to established UK clients.
The proposed exit strategy is through a buy-to-let refinance of the security property. REIM Capital said affordability was assessed against current market lending criteria by Aylin Karimaghaei, junior underwriter at REIM Capital, reflecting the property’s established rental income and tenancy profile.
The lender said the transaction demonstrated the strength of its underwriting process and the role of its proactive underwriting team in delivering time-sensitive completions.
Karimaghaei: “Delivering this transaction within four days highlights what can be achieved through a collaborative approach between all parties involved.”
Marcus Dussard, sales director at REIM Capital, adds: “Exciting plans are ahead for REIM Capital as we continue to grow our appetite to lend and back more ambitious transactions.
“Our team is always looking for angles and finding solutions, with a real commitment to getting deals over the line.”
