InterBay has made a number of enhancements to its buy-to-let and commercial lending proposition, based on feedback from brokers.
Brokers called for enhancements to the underwriting process, including turnaround times.
As a result, InterBay has eliminated the valuation review, reducing processing times and has given underwriters more discretion regarding landlords’ personal finances.
Based on broker requests, InterBay can now also finance buy-to-let properties that are owned or to be owned by trading companies.
For buy-to-let borrowers who took out a mortgage within the past 12 months, an application form, valuation and confirmation in writing that their circumstances have not changed are all that is required.
Improvements to InterBay’s legal processes include a real time update service.
Andy Reid, national key account and relationship manager, said: “Listening to our brokers is central to the InterBay culture, and we pride ourselves on how we take action to respond to their feedback and evolving needs. Improvements to our processing and lending criteria are already generating a positive response from our key partners, having a positive impact on brokers’ client relationships.”
