Redwood Bank has re-assessed its proposal for commercial lending to increase the affordability of his commercial mortgages for professional landlords and SMEs (occupiers of the owner).
These changes were made after consultation with leading brokers and reflect the constant higher interest environment that has put pressure on the leverage that some companies have access to their buildings, especially in southern England.
Redwood Also removes the choice in its commercial mortgage range, where a new product with a fixed rate with a fixed rate is launched, which returns to capital and interest for the rest of the mortgage term.
It also introduces its alternative cost option in its two -year and three -year fixed tariff products for commercial mortgages. This offers the option to pay a higher arrangement in exchange for a lower interest rate to stimulate their leverage.
Tom Worbey commented on the changes Redwood Senior Lending Product Manager: “We give the SME choice and simplicity with our latest changes. For example, we have simplified our interest options by removing LTV tires, which means that SMEs now have access to an initial period of only one and five years as part of their mortgage period.
He added: “Moreover, landlords can benefit from our award-winning green cashback reward, which is available at our commercial mortgages for real estate with energy performance certificate ratings from A to C. It is our way to offer landlords a money injection while contributing to a green future.”