A specialist lender has completed a complex refinancing involving a redeveloped rural property estate in West Yorkshire.
Redwood Bank, working alongside Newsource Commercial Finance, provided a bespoke refinancing solution for a converted barn within a farm estate near Halifax, while also enabling the repayment of the borrower’s principal private residence mortgage.
The transaction involved a loan of £290,016 secured against a property valued at £619,692. A key element of the deal was the need to split a single title covering multiple residential and commercial units so that it aligned with the agreed lending structure.
Robin Webb (pictured), senior credit operations officer at Redwood Bank, says: “This was a complex rural transaction, involving mixed-use assets, historic land ownership and the need to split titles accurately.
“Taking the time to understand the full site, how the buildings operated and the client’s objectives was essential. It’s a great example of how a considered, specialist approach can unlock solutions where standard lending criteria may struggle.
“This deal involved a lot of hard work and dedication. We’ve built a strong relationship with Newsource in recent years, and they trusted us as a specialist lender to navigate the complexities of mixed-use assets, commercial lending and shared titles.”
The property forms part of a wider 44-acre farm that has been owned by the client since 1957. Over time, several barns across the estate have been redeveloped, including a holiday let, a residential unit and a commercial unit leased to a gym business.
Redwood Bank took a holistic view of the estate, assessing the interaction between the various uses and managing the shared title arrangements to ensure the lending structure and pricing were commercially appropriate.
Mark Craven, director of Newsource Finance, adds: “Having worked with the client on this project to raise the initial development funding we sought a lender who were willing to take the time to fully assess this complex, mixed-use rural asset with shared titles.
“Redwood’s pragmatic, relationship-led approach meant challenges that might have stopped the deal progressing were worked through collaboratively, allowing us to secure the right outcome for the client. It’s a strong example of how specialist lending expertise can add real value on more complex transactions.”
