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Case study Loans

Hertfordshire pub says ‘cheers’ to Redwood Bank

Regulars at a popular Hertfordshire pub have raised a glass to toast the saving of their much-loved local, thanks to support provided by Redwood Bank.
The pub was forced to close for six months during the enforced COVID-19 lockdown. Unable to trade, the customer needed help with meeting their monthly mortgage repayments.

Redwood Bank had originally assisted the then tenants to acquire the Freehold of the property in 2018, by providing them with a 20-year loan. By working closely with the owners, Redwood agreed a period where mortgage repayments were halted during the lockdown. This meant the pub was able to start trading again once the lockdown lifted. 

By ensuring regular two-way communication with the customer, the experienced and helpful team at Redwood Bank was able to agree and process the repayment holiday quickly and efficiently. This provided much-needed peace of mind in a challenging time for anyone working in the hospitality sector.

Redwood Bank’s Customer Monitoring Manager Sue Norman and Portfolio Manager Dan Carter, both worked closely with the customer to present a variety of options. These were discussed with the customer which proved extremely useful, allowing them to agree terms that worked for their needs at this very difficult time.

Redwood Bank Portfolio Manager Dan Carter said: “This deal shows that by getting the right support, in the right way, at the right time, the business was able to survive a particularly turbulent time for the sector and has meant they are now able to open and trade.”

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