Alan Cleary

Precise, Kent Reliance and InterBay officially resume business

OneSavings Bank has expanded its lending options, including an increase to 70% LTV on BTL and residential products.

Following the recent announcement that OneSavings Bank had resumed new business lending through its Kent Reliance for Intermediaries and Precise Mortgage brands, it has further enhanced its product range.

Precise recently extended its range of products to include bridging and second charge loans.

From today (7th May) Precise and Kent Reliance will be increasing the LTV on BTL and residential mortgage products to 70% on properties valued up to £750,000, using desktop valuations.

InterBay Commercial has also launched a new range of semi-commercial products up to 60% LTV, and BTL products up to 70% LTV, on properties with a value of up to £1m.

Semi-commercial applications will be underwritten up to the valuation stage and held until lockdown restrictions are lifted.

Alan Cleary, managing director at OneSavings Bank (pictured above), said: “All our teams across the OneSavings Bank group have been working hard behind the scenes to ensure we have the infrastructure in place to best support our broker partners and their customers.

“During this time, we have focused our resource on supporting pipeline cases first before opening up for new business across our various product lines.

“The great news is that, from today Precise Mortgages, Kent Reliance for Intermediaries and InterBay Commercial are officially resuming business and taking on new cases.

“Our broker relationships remain absolutely key and we’re committed to continuing to provide specialist lending solutions during these challenging times.” 

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