Redwood Bank has launched a residential buy-to-let bridging proposition, expanding its lending offering to meet growing demand for short-term property finance.
The new bridging products focus on two key areas: standard bridging for residential landlord property purchases, development exits and refinancing; and residential landlord refurbishment bridging for improvements, designed to enhance value or make a property more mortgageable.
Both products offer loan terms of six, nine and 12 months, with the potential for term extensions up to a further 12 months and are available for both bridge-to-term and bridge-to-exit strategies, with a clear pathway to term lending with Redwood where required.
This proposition is designed to help customers move quickly when opportunities arise, whether purchasing property at auction, funding refurbishment works or bridging a gap between securing longer-term financing arrangements.
Property investors can also benefit from Redwood’s current 100% valuation cashback offer available on all its residential investment mortgages, including bridging loans.
Stuart Davidson, chief commercial officer at Redwood Bank, said: “Bridging finance is a natural next step for Redwood as we continue to grow our lending propositions. We know our customers and brokers value speed, clarity and certainty, particularly when dealing with time-sensitive property transactions.
“This launch allows us to further support residential landlords, whether they are acquiring a property, carrying out improvements or managing a transition between funding arrangements.
“Importantly, it also strengthens our ability to build long-term relationships by supporting customers as their property portfolios develop and grow.”
