Redwood Bank, an online institution which says one of its target customers is the professional landlord within the private rental sector, has opened its virtual doors.
Redwood won its banking license only four months ago and describes itself as the first business bank with 100 per cent cloud-based infrastructure.
It is wholly-owned by Redwood Financial Partners Ltd, a company controlled by Jonathan and David Rowland but with Warrington council as a 33 per cent stakeholder.
The bank’s main focus will initially be Hertfordshire, Bedfordshire and Buckinghamshire as well as in Warrington, where Redwood Bank have also opened a Warrington & North West regional office to support private rental and commercial property investors as well as small and medium sized enterprises in the areas.
For the buy to let sector the new bank will lend from £50,000 to £1.5m up to 70 per cent loan-to-value; loans can be fixed for two to 25 years for most buy to let mortgages, or a 20 year maximum for loans to buy HMOs; borrowers must have at least four buy to let properties.
Buy-to-let (BTL) investors continue to benefit from falls in mortgage rates,...
Ahead of expected restrictions on buy to let lending to be...
/Parliament-Summer-400x310.jpg)
A prominent supporter of new Prime Minister Liz Truss has spoken...
A series of lenders have slashed their buy to let mortgage...
The predictions game can be tricky. Sometimes you just don’t know...
Leading UK property auctioneer Bond Wolfe has broken through the £100...
Uncertainty triggered by the new Labour Government and taxation concerns that...
B-hive Block Management Partners Celebrates Major Milestone With Over 100 Businesses...
We’re absolutely delighted to announce that, after 10 years, we’re able...
You don’t have to simply accept things as they are when...
%20-%20IMAGE%20Client%20Accounting%20%E2%80%93%20what%20are%20your%20options.jpg)
The benefits for letting agents to outsource their client accounting is...
Who are you and what does it say on...
Who are you and what does it say on...
Who are you and what does it say on...
Join the conversation
Be the first to comment (please use the comment box below)
Please login to comment