Redwood Bank has completed an £847,500 refinancing deal for a Birmingham landlord, releasing equity to help expand housing for vulnerable young people.

The specialist lender refinanced a £1.3 million portfolio for Serenity Consultancy (UK) Ltd, with the funding intended to support further acquisitions and property improvements.

The case had been declined by two other lenders because of complexities around supported housing lease structures, but Redwood said it used manual underwriting to assess both the assets and the borrower’s wider operating model.

The facility was arranged with Omega Commercial Solutions Ltd and consolidated existing borrowing across a three-property portfolio. The deal completed within three weeks.

The portfolio includes two children’s care homes and a five-bedroom HMO. The loan was structured at 75% LTV on a five-year fixed rate with a 30-year interest-only term.

Mohammed Yousaf, director of Serenity, said: “Providing safe, high-quality homes with the right level of support can genuinely change someone’s life trajectory.

“Redwood took the time to understand the bigger picture. They looked beyond the paperwork and recognised both the track record and the purpose behind the portfolio. Their approach made a real difference in allowing the deal to move forward.”

Mark Dobson, head of business development (South) at Redwood Bank, said: “This deal shows how Redwood works with brokers and customers to support experienced landlords with clear growth plans. Our decision-in-principle process allowed us to give early certainty that we could support the case, and once approved we were able to move quickly to completion.”

The refinance will allow the borrower to reinvest in additional properties as it looks to increase the supply of accommodation for vulnerable young people.

Yousaf said: “Our long-term goal is simple – to provide more high-quality homes for young people who need stability, support and opportunity. Working with partners who understand that vision makes all the difference.

“Redwood were fantastic throughout the process. The solicitors they appointed were knowledgeable and worked extremely efficiently.

“After many years of working with lenders and solicitors, this was genuinely one of the best experiences I’ve had. It gives me confidence to consider refinancing more of my portfolio in the future.”