Redwood Bank has completed a £1.47 million refinance secured against a portfolio of rural industrial units after taking a flexible approach to a transaction that other lenders had been reluctant to support.
The specialist lender provided a £1,468,800 loan against a £2.5 million portfolio of industrial units linked to a working farm, completing the deal despite agricultural ties and the rural location of the assets, which can often limit lender appetite.
The loan completed within four months at 58.8% loan-to-value on a commercial and investment term, with the borrower also qualifying for Redwood’s Green Cashback Reward after the property achieved an EPC rating of B, receiving £5,760 on completion.
The transaction was introduced by Advantage Financial Solutions, with Redwood working closely with broker James Etheridge to understand the borrower’s long-term objectives and the underlying strength of the security.
CONSIDERED APPROACH
Mark Dobson (main picture, inset), head of business development (London, South-West and South) at Redwood Bank, says: “Rural transactions can often require a more detailed and considered approach, particularly where there are agricultural ties that may narrow lender appetite.
“This was a strong asset with a clear long-term income profile, and by taking the time to understand the background of the deal, we were able to provide the broker and customer with confidence and certainty throughout the process.
“In cases like this, flexibility and a willingness to engage with the detail can make a significant difference.”
DETAILED DEAL
James Etheridge of Advantage Financial Solutions adds: “Redwood stood out from the very start for their willingness to engage with the detail of the deal and their confidence in the security.
“As our first transaction together, the experience has been extremely positive. Their speed of response and collaborative approach gave us and the customer reassurance from the outset and they delivered throughout the process.
“Cases involving rural assets often require a more detailed and considered approach, particularly where there are agricultural links that may limit lender appetite.
“By taking the time to meet the customer and fully understand both the property and its history, Redwood was able to present a clear and well-supported case.”
