Redwood Bank has expanded its valuation fee cashback offer to cover commercial mortgages and bridging loans, extending the initiative to a wider range of property investors, landlords and businesses.
The specialist business bank launched the cashback scheme across its residential investment mortgage range in July, refunding customers 100% of their valuation fee on completion. Following the launch of its bridging proposition earlier this month, Redwood extended the offer to bridging loans before broadening it further to include its commercial mortgage range.
The expansion means experienced property investors and landlords purchasing or refinancing commercial properties can now access the same cashback support available to residential investment borrowers.
"When we launched the cashback offer in July, our aim was to help ease some of the upfront costs facing landlords and property investors," said Stuart Davidson, chief commercial officer at Redwood Bank (pictured).
"Extending it across bridging and commercial lending means we can now offer that same support to a much broader range of customers, whether they're investing in property, refinancing or securing premises for their business.
"We've continued to develop our lending proposition throughout the year and this is another way we can give brokers and their clients greater choice and value across a range of financing needs."
The original cashback offer remains in place across Redwood's residential investment mortgage range, including buy-to-let, HMOs, MUFBs and eligible semi-commercial mortgages.
