We know the current market is challenging in the face of global unrest. Rising rates and product withdrawals are creating uncertainty for brokers and borrowers alike.
At Redwood, we remain steady. Our commitment to you and your customers hasn’t changed.
Our commercial mortgages and residential investment mortgages remain available and our pricing is holding firm. Commercial rates starting from 6.34% and semi-commercial and residential rates starting from 4.84%.
If you need reliability and flexibility, this is the moment to get in touch.
Here is where we help you win more cases
HMOs and MUFBs: did you know we support investment valuations and undervalue purchases, often unlocking up to 90% of the purchase price?
Light adverse credit for BTL: we can accept small historic issues as long as the customer is now in a stable position with an improving outlook.
Commercial: we have just introduced 20-year interest only terms.
Semi-commercial: we offer residential rates if at least 50% of income is from a residential source.
A reminder of improvements over the past 12 months or so
Affordability improvements
- Removed restrictive cost deductions from gross rentals
- Improved outcomes for limited company borrowers through revised debt service coverage (DSC) metrics
- Introduced 30-year interest only terms for residential investment mortgages
- Increased maximum portfolio lending limit from £6 million to £10 million
- Increased maximum single asset limit to £6.5 million
Greater flexibility
- Increased maximum age to 85
- Simplified information requirements by removing the need for bank statements and tax returns
- Reduced commercial DSC ratios
- Reduced stress rates for variable rate, 2-year and 3-year fixed rate products to 1%
- Extended commercial loan term for C&I to 30 years and interest only term to 20 years
Clearer pricing and faster decisions
- Introduced transparent LTV and credit-based pricing
- Launched an online commercial mortgage calculator
- Launched a residential decision in principle process with upfront valuations for faster turnarounds
- Aligned the commercial and residential investment procuration fees to 1.50 per cent
You can rely on Redwood Bank to provide consistent support and clear, dependable options – no surprises, just stability and certainty.
If you have any questions or would like to discuss current products or cases, please don’t hesitate to get in touch.
Our Business Development Team