Redwood Bank supports million-pound town centre housing development in Warrington
A challenger bank based in Warrington has helped secure the future of a new housing community in the town centre.
Redwood Bank has assisted Buttermarket Properties with the development of its latest £1.6m project by building a package around a £1,050,000 loan.
The project saw the transformation of the former RBS building into dazzling new one, two and three bed properties located in the heart of Warrington.
In addition, three commercial units were built in the former high street bank as part of the development.
Redwood Bank’s business development manager Sue Young said: “We were thrilled to be able to support a veteran property investor in bringing housing to Warrington town centre.”
Buttermilk director and successful property developer, Neil Trainer sought help from Redwood to consolidate a development funding grant into a competitive term loan after taking advice from his broker.
Danny Carter, of UK Financial Consultancy Services Limited, recommended Redwood for its personal approach and hands on service.
The deal was completed with a quick turnaround, allowing Neil to refinance promptly and focus his efforts on the continued work on the development and attract prospective tenants and businesses.
Sue said: “Having worked closely with Danny for many years, Neil was able to place his trust in Redwood Bank and allow us to move swiftly to come up with a solution that worked for all parties.”
Being able to resolve a complicated financial issue quickly and effectively has shown the benefits of working with a flexible and adaptable challenger bank free of the rigid constraints often faced by traditional high street lenders.
Neil said: “I’ve been impressed by the can-do attitude shown by Sue and the Redwood team.
“They find solutions to make things happen and the proactive approach has ensured a swift deal which, in the current property market, is vital.”