Darrell Walker

InterBay delivers £6m of commercial funding with Impact Specialist Finance

InterBay Commercial has teamed up with Impact Specialist Finance to provide just under £6m of commercial finance across two transactions.

The specialist lender was approached by Dale Jannels, managing director at Impact Specialist Finance, with two challenging cases.

The first case was for a £2.9m commercial facility to repay a development finance loan.

The facility was underwritten on the basis of the loan being secured against seven flats under one freehold and two additional units under another freehold.

InterBay accepted the application and provided the funding on this basis.

The second case was for a remortgage for a block of 12 flats to be held with a newly created limited company structure.

The property was a converted public house that had undergone a recent refurbishment and development to add two new flats.

Due to the quality of the assets and the strong LTV position, InterBay accepted the application and provided the funding.

Darrell Walker, head of sales at InterBay Commercial (pictured above), said that it was truly a great effort from everyone who touched these cases at every stage, both at Impact and InterBay.

Dale added: “It takes a great underwriting team to provide multifaceted solutions in a timely manner, and we are delighted to have established such a strong working relationship with InterBay Commercial.”

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