Commercial Finance
InterBay trims commercial rates and adds limited-edition remos
Specialist lender InterBay, part of OSB Group, has reduced rates across its semi-commercial and commercial mortgage ranges.
Within InterBay’s commercial range, rates begin from 7.09% for a two-year fixed deal at 65% loan to value (LTV).
Across its semi-commercial product offering, pricing starts from 6.09%, which applies to a two-year fixed deal also at 65% LTV. Both options come with 5% arrangement fees.
The lender has also introduced products with 1% cashback.
Its limited-edition commercial products include a two-year fix at 75% LTV priced at 7.99%, while the five-year fixed option has a rate of 7.69%. Both have a 2% arrangement fee.
The limited-edition semi-commercial options include a two-year fix at 65% LTV with a 7.49% rate and a corresponding product at 75% LTV priced at 7.69%.
Introducing the Green Living Reward
Your clients can now get up to £2,000 cashback for making energy-efficient home
Sponsored by Halifax Intermediaries
The equivalent five-year fixed products have rates of 6.89% and 7.09% respectively.
All the above deals have 2% arrangement fees.
Marc Callaghan (pictured), head of specialist lending at InterBay, said: “Now that we’ve reached a relative period of stability, it was the right time to review, enhance and expand the InterBay product range to provide improved options and solutions to our broker partners.
“Having successfully piloted the cashback option with our select partners earlier in the year, I’m pleased that we’re now rolling this out across our entire semi-commercial and commercial ranges.”
Callaghan added: “Underpinning this fantastic offering is our award-winning sales team, who are not only subject matter experts but recognised for their outstanding levels of customer service. This was highlighted in an independent survey commissioned by Smart Money People, where brokers shared their views on service delivery, and InterBay came top, which reflects our continued commitment to deliver the best outcome for our clients.”
Earlier this year, InterBay established a commercial investment team to support its commercial and semi-commercial proposition. The team was formed of specialist finance account managers with an aim to help clients diversify their investments beyond the buy-to-let (BTL) market.