Despite the challenges of the COVID crisis and a tight timeframe, Redwood Bank was still able to successfully help complete an acquisition of 91 properties.

The Warrington Challenger Bank was approached when Resolv Property Ltd, a property development company based in Solihull, was given the opportunity to acquire a portfolio of properties through Ross Harper of National Property Auctions.

The 91 properties included a series of flats and mid-terraced houses located across 16 towns in Scotland, and a semi-commercial property which was added at a later date.

Time was of the essence because the vendor was retiring and wanted a quick sale. His demands were clear that he wanted to sell all the properties together, instead of selling them individually via auction.

In order to complete the deal, Resolv Property Ltd needed a loan approved quickly and a lender that would take into account the below market purchase price and lend against the market value.

Adam Lawrence, one of the company’s directors, is an existing customer of Redwood Bank and knew from first-hand experience that if any organisation could help, it would be the Warrington Bank.