REIM Residential Bridging Loan
The borrower, a non-UK resident, required a rebridge for their portfolio made up of five properties located in Derbyshire.
The development consisted of one detached and four semi-detached houses, registered over two titles. The REIM Residential Bridging Loan gave the borrower additional time to split the titles individually.
Tenancy agreements with corporate clients were signed pre-loan drawdown, with all properties due to be occupied within four weeks of loan completion. Once all properties are income generating and sitting on their own titles, the REIM residential bridging loan will be exited via buy to let mortgage.