SimplyBiz Mortgages adds InterBay Commercial to lender panel

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  • 24/04/2018
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SimplyBiz Mortgages adds InterBay Commercial to lender panel
Mortgage club SimplyBiz Mortgages has added specialist lender InterBay Commercial, part of the OneSavings Bank Group, to its panel.

The lender’s commercial, semi-commercial lending, buy-to-let and HMO, and bridging loans are available to club members.

The commercial specialist said lending highlights include higher LTVs and extended loan terms, lending on vacant property and loans offered at investment value.

Martin Reynolds, chief executive officer at SimplyBiz Mortgages, said: “We are very pleased to welcome another part of the One Savings Bank Group to our panel, having held long established relationships with other parts of the group for a number of years.”

Adrian Moloney, sales director, OneSavings Bank, added: “Members will also be able to take advantage of our new streamlined process with regards to our competitive bridging solutions which will enable them to respond faster to their clients’ needs.”

Simplybiz achieved flotation on the London Stock Exchange’s Alternative Investment Market on 4 April this month giving the group a capitalization of £130m.

The firm currently supports over 3,400 directly authorised financial advisory firms in the UK.

Announcing the plan to float, joint chief executive Matt Timmins said the initial public offering would “mark the next stage in our growth story”.

According to its admission document, SimplyBiz is floating to “enhance the profile of the business, assist in incentivising management and employees, to provide permanent capital from institutional investors, to enable the directors to take long term investment decisions and to provide Ken Davy, the group’s chairman and current majority owner, and the other selling shareholders the opportunity to sell down all or part of their respective holdings.”

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