InterBay cuts rates across semi-commercial and commercial ranges

  • 13/01/2022
  • 0
InterBay cuts rates across semi-commercial and commercial ranges
InterBay has reduced rates in its semi-commercial range and commercial ranges by up to 0.5 per cent and increased its maximum loan to value (LTV) for loans in the range.

The lender, an arm of OSB Group, said the reduction applied across all of its semi-commercial and commercial ranges, giving investors the option to choose products on an interest-only basis and widening the number of asset classes it would consider.

Rates will start from 4.69 per cent, and two-year loans have fallen by up to 0.4 per cent, whilst three and five-year loans have been cut by 0.5 per cent.

The company also reduced its proof of rent requirement for semi-commercial and commercial loans from 12 months to three months.

InterBay also said it had raised its LTV calculation to a maximum of 75 per cent in a bid to spur investors seeking new commercial opportunities this year. This is up from 70 per cent for semi-commercial borrowers and 65 per cent for commercial borrowers. 

Emily Hollands (pictured), head of specialist finance at InterBay, said: “We’re ready for a strong commercial market in 2022 and to help support investors with their business plans, we’ve developed a range of products which offer a wide choice of lending solutions.”

“Brokers applying for one of our mortgages will benefit from a personalised, flexible approach,” she added, including help from specialist finance account managers and an in-house real estate team that handles complex cases.

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