A landlord successfully refinanced a semi-commercial property with Redwood Bank’s specialised assistance.
- The property includes two flats above a convenience store, presenting unique refinancing challenges.
- Redwood Bank offered a residential investment mortgage with competitive rates after manual underwriting.
- Coreco Specialist Finance facilitated the engagement between the landlord and Redwood Bank.
- The refinancing allowed the landlord to release capital efficiently and explore further investment.
In an increasingly complex property market, Redwood Bank demonstrated its commitment to facilitating semi-commercial refinancing by assisting a landlord in securing a residential investment mortgage. The landlord faced difficulties obtaining a competitive rate for a property consisting of two flats situated above a convenience store. This mixed-use nature necessitated a tailored approach to refinancing, which Redwood Bank was well-positioned to provide.
Coreco Specialist Finance, acting on behalf of the landlord, approached Redwood Bank to explore potential solutions. Peter Davies of Coreco highlighted the bank’s reputation for managing semi-commercial deals and its expertise in handling complex tenancy agreements. Davies noted, “My colleague recommended Redwood to me as a specialist lender for semi-commercial deals.”
Redwood’s manual underwriting process was pivotal in agreeing to a deal that accommodated various tenancy types within the property. By reviewing lease agreements and sources of rental income, Redwood was able to extend favourable terms, offering a competitive interest rate on a five-year fixed term, structured as interest-only for 29 years. This approach not only enabled the release of capital but also helped in managing financial margins effectively.
Mark Dobson of Redwood Bank emphasised their consistent support for semi-commercial deals, aiding property investors in capital release to enable further investments. “Our approach helps landlords to maximise their affordability to release the capital they need to grow,” Dobson stated, underscoring the strategic value provided by the bank’s financing options. The collaboration between Redwood and Coreco ensured the refinancing achieved completion within the customer’s required timelines.
Redwood Bank’s strategic refinancing enabled a landlord to efficiently release capital and plan future investments.
