InterBay launches new commercial offering

InterBay Commercial has launched a new commercial proposition, just weeks after introducing its enhanced semi-commercial product range.

This latest offering includes rates from 5.74%, up to 65% LTV, as well as two-, three- and five-year fixed terms.  

Key features of InterBay’s commercial products: 

  • interest-only option available
  • minimum loan size of £150,000
  • 0.25% reduction in fees for existing borrowers
  • For property values over £2m, refer to your BDM

Acceptable property types include suburban/neighbourhood precinct and convenience retail stores, office buildings with a maximum of three storeys, and light/general and storage/distribution industrial buildings.   

“InterBay Commercial is back to doing what it does best — offering its intermediary partners a range of commercial, semi-commercial and BTL propositions, fully supported by an award-winning business development team,” said Adrian Moloney, group sales director at OneSavings Bank (featured in the video, above).

To further support the return of its commercial lending, InterBay’s website has been updated to facilitate a smoother and quicker application process.

Brokers with a proposal are encouraged to speak to their local BDM for guidance and to help tailor their application. 

Phil Gray, managing director at Watts Commercial Finance, commented: “As the managing director of a busy finance brokerage, it’s vital we have the best lenders on hand to assist our clients. 

“With this in mind, my team and I are delighted to welcome InterBay back to the market and we look forward to continuing our close partnership.”

In an exclusive filmed interview, B&C asked Adrian whether there would be any movement on its appetite on different commercial asset types next year.  

“I think there’s certain elements of asset class that you would stay clear of, or stand back from at the moment, while you see what happens with [them] over the next 12 months,” he stated.

“[Over the last week], we’ve seen announcements from the prime minister and the chancellor and I think, what we do well — and the reason we’ve been able to come back and [first] expand the semi-commercial range and now go into the commercial range — is react as we get sound data on what’s happening with the different types of real estate that [is] out there.”

Kent Reliance has also recently announced its enhanced HMO offering, and Precise Mortgages has relaunched its refurbishment BTL proposition.

You can watch the full interview, in which Adrian discusses the USPs of the new commercial offering, below.

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