REIM Capital has announced the launch of its new refurbishment product, designed to support property investors looking to add value through light refurbishment projects.
The product allows investors to secure funding for both the purchase and refurbishment of residential and semi commercial properties, helping them move quickly on opportunities such as auction purchases or BRRR.
REIM can consider auction purchases, HMOs, standard residential stock, and semi-commercial properties where the residential element exceeds 50%.
The product is available up to 75% LTV/75% LTGDV subject to property and borrower experience.
The cost of works cannot exceed 25% of the day one current market value and the minimum day one loan is £150,000, with drawdowns from £25,000.
Marcus Dussard, sales director at REIM Capital, commented: “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.”
