Redwood Bank is a newly established bank that was formed in the UK in 2017 with a head office near Stevenage and a regional office in Warrington. They offer a range of savings and loans products which are all mortgages for businesses. They provide their products to their customers in person or over the phone.
Redwood Bank Commercial Mortgage Options
Redwood Bank offers a selection of business mortgages that are designed for professional landlords, business owners and property refurbishment.
Mortgages for Professional Landlords
- Borrow £125,000 to £5 million
- LTV up to 70%
- Fixed terms from 2 to 30 years
- Net rental income 130% of monthly repayments
- Suitable for HMOs
- Offers an interest-only option
- Can be used for commercial, residential or mixed properties across Britain
Mortgages for Business Owners
- Loans of £125,000 to £5 million
- Fixed terms of 2 to 25 years
- Maximum LTV of 70%
- Interest-only option available
- Provides timely decisions
- Specialist team to support you
Mortgages for Property Refurbishment
- Loans from £125,000 to £5 million or £3 million per single property
- Maximum LTV of 70%
- Net rental income 130% of monthly repayments on completion
- Suitable for HMOs
- Interest-only option available
- Provides specialist support team
Redwood Bank Commercial Mortgage Eligibility
Redwood Bank’s mortgages for professional landlords is available to landlords with a minimum of 2 properties in England, Scotland or Wales and a minimum of 2 years experience as a professional landlord. A net rental income of 130% of the monthly repayments is needed.
Their mortgages for business owners are available for properties in England, Scotland or Wales and they will assess at least your last 3 years’ trading performance and accounts.
Their property refurbishment mortgages are available to property investors with a minimum of 2 years experience and 4 properties. Also need to have 2 years experience of property refurbishment on at least 2 properties in England, Scotland or Wales. A net rental income of 130% of the monthly repayments is needed on completion if renting the property.
Redwood Bank Commercial Mortgage Rates
Redwood Bank applies a standard rate of 2% to its new loans which can be incorporated into the loan.
Redwood Bank Commercial Mortgage Calculator
Redwood Bank doesn’t have a commercial mortgage calculator.
Redwood Bank Commercial Mortgage Reviews
There are only a very small number of reviews available for Redwood Bank that feature on Trustpilot only. The Trustpilot reviews are largely positive with 50% rating them as excellent, 25% as great and 25% as bad. Positive comments included great experience with savings and mortgages, good service during Covid, and responsive service. The negative comments included issues with withdrawals and logging on problems.
Trustpilot – 3.6/5 (based on 8 reviews)
Google Reviews – no reviews
Reviews.co.uk – no reviews
Review Centre – no reviews
Smart Money People – no reviews
How To Apply For A Redwood Bank Commercial Mortgage?
If you want to apply for a commercial mortgage with Redwood Bank you can call them on 0330 053 6067.
Pros
- Offers a range of mortgages tailored to different needs
- Positively rated in customer reviews, although low number
Cons
- Relatively new bank
- Lack of customer reviews
Website: Redwood Bank Commercial Mortgage