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A landlord with a growing Enfield property portfolio has successfully refinanced two semi-commercial assets, thanks to a collaborative effort led by Jordan Constanti and the team at Redwood Bank.
The £3.2 million loan, agreed on a 30-year interest-only term with an initial five-year fixed rate, enabled the client to release equity for future investment. The properties, valued at £4.54 million, included a mix of shops and residential flats – some of which were still under development at the time of application.
The deal also qualified for Redwood’s Green Cashback Reward, recognising energy-efficient upgrades within the portfolio.
What set this case apart was Redwood Bank’s personalised, on-the-ground approach. Mark Dobson, Head of Business Development (South), and Sarah Johnson, Head of Underwriting, visited the site in person, deepening their understanding of the asset and the landlord’s long-term goals.
Despite two of the residential units still being converted from offices, Redwood worked proactively with the broker and client. It was agreed the loan would be drawn down upon completion of the flats, allowing for a full valuation to reflect the final asset value accurately.
Mark said: “This deal is a great example of Redwood helping landlords maximise leverage to grow, especially in areas like the South-east where yields can be challenging. By offering a higher fee product and pricing the loan using residential rates, we enhanced affordability and boosted the client’s cashflow, and great for the customer to benefit from the cashback reward on completion.”
Legal guidance was provided by Feldon Dunsmore Solicitors, with partner Paul Harrison saying: “Redwood’s pragmatic approach, clear communication and willingness to understand the borrower’s needs made a real difference in navigating the complexities and ensuring a smooth and successful transaction.”
Sarah added: “We underwrite each case individually and believe in meeting clients face-to-face where possible. In this instance, it gave us the insight needed to structure a bespoke solution that truly supported the landlord’s ambitions.”
The successful completion highlights Redwood Bank’s commitment to flexible lending and personal service – essential ingredients in navigating the complexities of semi-commercial finance.
For further information, visit https://redwoodbank.co.uk/commercial-mortgages/green-cashback-reward