Specialist bank delivers £798,000 for complex listed building refinance

29 October 2025

A complex refinance involving a Grade II-listed property in Hereford has been successfully completed by specialist lender Redwood Bank.

Working in partnership with Merryoaks Property Finance, the £798,000 deal refinanced a high street building that had been converted into 10 residential flats with a retained commercial unit. The transaction required intricate handling due to its intercompany finance structure, listed status and a tight turnaround.

Mark Dobson, Head of Business Development (South and London) at Redwood Bank, said:

“This was a complex case involving multiple layers – intercompany lending, a listed building and the need for a fast turnaround. Not every bank would take on a structure like this – but Redwood Bank did, and we will continue to support brokers and clients with bespoke, flexible lending solutions.”

Redwood approved the loan with a 2 per cent fee on a 10-year interest-only term, with a five-year fixed rate of 6.49 per cent. The loan will then roll into a 20-year capital and interest repayment, making up a 30-year total term. Due to the property’s strong environmental performance, the client also benefited from Redwood’s award-winning Green Cashback Reward, paid upon completion.

Mark said: “We worked under tight timelines, but the collaboration between Redwood, Merryoaks, the client and the solicitors involved was seamless. This deal is a testament to the strong relationship now built between Redwood and Merryoaks. I’m incredibly proud of the team who ensured a smooth completion under significant pressure.”

The deal’s structure involved an intercompany transaction, with the asset sold to the client’s investment entity. Feldon Dunsmore Solicitors played a pivotal role, acting on a dual representation basis to facilitate a smooth completion.

George Melling, Head of Bridging & Commercial at Merryoaks, said:

“This deal was a fantastic example of what can be achieved when everyone pulls in the same direction.

“Redwood’s willingness to understand the client’s structure, their pragmatic approach, and their speed of execution made all the difference. It’s been a real pleasure working with a lender that genuinely values relationships and results. With their outstanding legal team also involved, this marks signs of a strong and lasting partnership.”

For more information, visit https://redwoodbank.co.uk/