HTB and Interbay cut semi-commercial rates – round-up

Rates begin from 6.19 per cent for a two-year fixed rate and 6.59 per cent for a five-year fixed rate.

The lowered rates will apply to all existing early repayment charge (ERC) plus and ERC lie products, as well as fee plus, which will give “brokers and borrowers more options in response to affordability requirements and rate preferences”.

Semi-commercial loans have a minimum income-contingent repayment of 125 per cent maximum loan to value (LTV) of 75 per cent.

Chris Daly, managing director of specialist mortgages at HTB, said: “It’s critical to us that brokers see HTB as a lender which listens and acts. We’re committed to the semi-commercial market and constant innovation to help meet the needs and demand from landlords and property investors who see semi-commercial as an area that will help them positively diversify their portfolios.

“With today’s reduction in pricing across all our semi-commercial products, we’re supporting landlords to achieve their goals by addressing their issues with mortgage affordability.

“While it’s only February, we’ve already made many positive changes to pricing and criteria across our specialist mortgages range this year; that said, we aren’t resting on our laurels. We have a responsibility and appetite to support all landlords, whether old or new, and will be revealing more about this shortly.”

Interbay cuts semi-commercial rates

Interbay, part of leading specialist lender OSB Group, has lowered rates across its semi-commercial range.

Interbay’s core and select ranges include decreased rates across two- and five-year fixed semi-commercial rates available at 65 per cent LTV and 75 per cent LTV.

The select range is available to a range of brokers, but can also be accessed through a select partner.

Interbay’s new rates have been reduced by 0.4 per cent, starting from 6.44 per cent for two- and five-year fixed up to 65 per cent LTV. The minimum loan requirement across the core range has also been reduced to £200,000.

Adrian Moloney, group intermediary director of Interbay, said: “We’re delighted to be lowering rates across semi-commercial products. Our newly created commercial investments team are real subject-matter experts in this field, truly understanding the differing variables that make up the full semi-commercial case picture.

“The team works closely with the in-house real estate and underwriting departments right from the outset, which helps overcome any potential challenges early on in the process. Interbay is renowned for this excellent service, so that teamed with the new rates and pricing makes Interbay a really strong option.”

Jo Breeden, managing director of Crystal Finance, added: “Having worked with Interbay over numerous years, the service they provide on cases is second to none. This has been highlighted by their recent ‘Commercial Lender of The Year’ win at our awards recently. With lower rates across their semi-commercial offering, this really enforces Interbay as the go-to commercial lender.”

A report from early January revealed that Interbay and Landbay’s business development managers (BDMs) have the highest broker satisfaction rate.