Editor's note: This brief was summarised by The Property AI Newsroom from a report by Mortgage Solutions. Read the original article for full details.
Redwood Bank Unveils Buy-to-Let Bridging Products for Landlords
Redwood Bank has launched a new residential buy-to-let bridging proposition, introducing two products aimed at meeting demand for short-term property finance. The new offering expands Redwood Bank’s lending range and is designed to support landlords with property purchases, development exits, and refinancing.
The proposition includes a standard bridging product for residential landlord property purchases, development exits, and refinancing, as well as a refurbishment bridging product intended to fund works that enhance a property’s value or mortgageability. Both products are available on six, nine, and twelve-month terms, with the possibility of extensions for up to a further twelve months.
Redwood Bank stated that these products are intended to help landlords move quickly when opportunities arise. The products support property purchases at auction, refurbishment projects, and situations where borrowers require interim funding before securing longer-term finance.
According to Redwood Bank, the new proposition complements its existing lending range and provides residential property investors with access to both bridging and term finance through a single lender.
These developments may be of interest to UK letting agents and inventory clerks working with landlords who require flexible short-term finance solutions for property acquisition, refurbishment, or refinancing.
Source: Mortgage Solutions