Editor's note: This brief was summarised by The Property AI Newsroom from a report by Mortgage Strategy. Read the original article for full details.

Redwood Bank Unveils New Residential BTL Bridging Products

Redwood Bank has launched a residential buy-to-let (BTL) bridging proposition, introducing two new products. The products are designed for residential landlord property purchases, development exits, refinancing, and refurbishment projects.

The new bridging products include standard bridging for residential landlord property purchases, as well as options for development exits and refinancing. Additionally, there is a focus on refurbishment bridging, aimed at property improvements to enhance value or make a property more mortgageable.

Both products offer loan terms of six, nine, and twelve months, with the possibility of extending the term by up to a further twelve months. These products are available for both bridge-to-term and bridge-to-exit strategies.

Redwood Bank states that bridging finance is part of its strategy to support customers throughout their borrowing lifecycle, providing funding solutions at earlier stages before transitioning to long-term financing.

The launch is intended to support residential landlords in acquiring properties, carrying out improvements, or managing transitions between funding arrangements.