A landlord expanding their portfolio in Enfield has refinanced two semi-commercial properties with the help of a £3.2 million loan from Redwood Bank, unlocking equity for further investment opportunities.

The transaction, structured on a 30-year interest-only basis with an initial five-year fixed rate, was overseen by Jordan Constanti and his team at Redwood Bank.

The deal involved two mixed-use properties comprising retail units and residential flats, some of which were still undergoing conversion at the time of application.

The assets carried a combined value of £4.54 million.

The refinancing also qualified for Redwood Bank’s Green Cashback Reward, a scheme designed to incentivise and support environmentally conscious upgrades within property portfolios.

Both Mark Dobson (pictured), head of business development (South), and Sarah Johnson, head of underwriting, visited the site in person to gain a comprehensive understanding of the project and the landlord’s long-term objectives.

Although two of the residential units were still in the process of being converted from office space, Redwood maintained a flexible approach. The bank agreed to release funds upon completion of the works, allowing a final valuation to accurately reflect the completed state of the property.

Dobson said: “This deal is a great example of Redwood helping landlords maximise leverage to grow, especially in areas like the South-east where yields can be challenging.

“By offering a higher fee product and pricing the loan using residential rates, we enhanced affordability and boosted the client’s cashflow, and great for the customer to benefit from the cashback reward on completion.”

Legal advice on the transaction was provided by Feldon Dunsmore Solicitors. Paul Harrison, partner at the firm, praised Redwood’s handling of the case, noting the bank’s “pragmatic approach, clear communication and willingness to understand the borrower’s needs” as key to the deal’s success.

Sarah Johnson added: “We underwrite each case individually and believe in meeting clients face-to-face where possible. In this instance, it gave us the insight needed to structure a bespoke solution that truly supported the landlord’s ambitions.”