Reim Capital plans to fully digitalise bridging application process and double team size

In an exclusive interview with Bridging & Commercial, Kunal Vaitha, principal at Reim Capital, explained that the specialist lender’s main objective in 2020 was to simplify the bridging loan application process.

“Over time, we are planning to fully digitalise this process by first, reducing the amount of time needed to fill the required documentation and, second, by making the process friendlier to our end clients.”

Reim Capital — which launched in May 2019 and currently consists of three people — is also looking to more than double its team size over the course of this year by hiring a new senior and junior underwriter, and two new BDMs.

This follows the lender’s recent move into its new office in Piccadilly.

“Being in a bigger and more resourceful office allows us to have a clearer vision of the future,” added Kunal.

Reim Capital is funded through a joint venture with a real estate debt fund and provides various bridging and commercial products, including:

• residential bridging up to 75% LTV from 0.55% per month
• auction finance up to 70% LTV from 0.59% per month
• commercial bridging up to 70% LTV from 0.79% per month
• semi commercial bridging up to 70% LTV and rates from 0.69% per month
• land with planning bridging up to 65% LTV from 0.89% per month
• development exit finance up to 70% LTV from 0.65% per month
   

According to Kunal, Reim Capital is expecting to write £2-3m per month during 2020, and expects to surpass these figures later this year by growing its broker distribution.