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OSB Group launches bridging range with Precise Mortgages and InterBay

  • 08/04/2022
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OSB Group launches bridging range with Precise Mortgages and InterBay
Specialist lender, OSB Group, has brought out an “extensive bridging proposition” through its Precise Mortgages and InterBay brands.

The group said the proposition will help brokers meet client requirements for short-term lending solutions.

It added that there was high demand for heavy non-regulated refurbishment on properties due to lack of available property stock.

The range is a two-tier offering, in addition to standard bridging finance range, and will allow a “wider choice of streamlined options for brokers”. It covers structural works and extensions for residential customers as well commercial conversion.

Rates begin at 0.47 per cent for regulated and non-regulated products through Precise Mortgages and InterBay and up to 75 per cent loan to value (LTV) is available.

There is also a develop exit range up to 75 per cent LTV available through InterBay.

House to flat conversions and works that require planning permission are both allowed in the range through both Precise and InterBay.

Commercial to flat conversions are permitted through InterBay, and the firm also has a expanded solicitor panel which has dual legal representation.

Emily Hollands (pictured), head of specialist finance at OSB Group, said the launch coincided with the changing property market, which included heightened demand for houses in multiple occupation and changes in permitted development rights.

She added: “From our own research and market knowledge, we know that investors are looking at a wider range of properties for conversion into residential units as well as changing commercial usage from pure office space into a combined “work/eat/sleep” offering.

“With our combined expertise across both Precise Mortgages and Interbay, we’re confident in being able to offer the best support and knowledge across short term lending and this new product range cements our commitment.”

Rob Jupp, chief executive at Brightstar Financial said that it was a “really exciting announcement” from OSB Group and it was pleased to see a “comprehensive range of products”.

He said: “It’s wonderful to have InterBay back into the bridging market, alongside Precise Mortgages and their dual-branded approach offers the next level in terms of support and expertise. This new product range is very timely for the market.”

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