The product will provide funding for the purchase and refurbishment of residential and semi-commercial properties, allowing them to move quickly with opportunities such as auction purchases or buy, refurbish, rent, refinance.
REIM Capital said this marked an expansion in its product range as the lender continued to grow.
It will consider auction purchases, houses in multiple occupation (HMOs), standard residential stock, and semi-commercial properties where the residential element exceeds 50%.
To qualify, the cost of works should not exceed 25% of the property’s day one current market value. REIM Capital will provide loans from £150,000 and drawdowns from £25,000.
Marcus Dussard, sales director at REIM Capital, said: “This is a really positive step forward as we continue to grow. Our focus is simple, giving brokers and clients the confidence that funding will be there when it matters, with the flexibility to support a wide range of opportunities.
“Refurb is where bridging really comes into its own, so this is a natural progression as we continue to build our presence in the market.”
