Redwood Bank has completed the refinancing of a £1.3m property portfolio for a landlord in Birmingham, unlocking funding to support the expansion of homes for vulnerable young people.
The bank delivered an £847,500 refinancing facility for Serenity Consultancy (UK) Ltd, enabling equity release for further acquisitions and property improvements.
The case had previously been declined by two lenders due to complexities surrounding supported housing lease structures.
Redwood instead applied a manual underwriting approach, assessing both the assets and the borrower’s wider operating model to enable the deal to proceed.
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.”
The transaction was delivered in partnership with Omega Commercial Solutions Ltd and consolidated existing borrowing across a three-property portfolio within three weeks.
The portfolio includes two children’s care homes and a five-bedroom house in multiple occupation (HMO).
The facility was structured at 75% loan-to-value (LTV) on a 5-year fixed rate, with a 30-year interest-only term.
Mark Dobson (pictured), 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 refinancing allows the borrower to reinvest into additional properties, supporting the continued expansion of accommodation for vulnerable young people.
Yousaf added: “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.”
