InterBay Commercial launches new semi-commercial product range

InterBay Commercial, part of specialist lender OneSavings Bank, has today (12th November) launched an enhanced semi-commercial proposition.

The lender — which recently improved its website with clear guidance and calculators ahead of the product launch  — is offering two-, three- and five-year fixed-rate products for clients with mixed-use properties.  

A key feature of the range is that commercial income can be considered alongside residential income, with LTVs of up to 70%.

Other features of the new InterBay semi-commercial product range include: 

  • pay rate starting from 4.79% at 60% LTV
  • min loan £150,000
  • 0.25% reduction in fees for existing borrowers
  • loans for properties with a value up to £2m - brokers are urged to speak to their BDM for properties worth more. 

InterBay will accept complex ownership structures, including limited companies and partnerships, and will look at select retail, offices, takeaways, restaurants, cafés, and pharmacies.

Brokers can speak to a BDM to discuss different property types. 

“This is an exciting range for InterBay, and something I know our broker partners have been asking for,” commented Adrian Moloney, group sales director at OneSavings Bank (featured in the video, above).

“Let’s be clear, these are still testing times, however, with the experience and knowledge that InterBay brings to its intermediary broker partners, we’re absolutely confident that now is the right time to bring this semi-commercial offering to the market,” he added.

“There is certainly a lack of choice out there,” Adrian told B&C during an exclusive filmed interview, when asked why semi-commercial products are so integral to the broker market right now. 

“There are good trading businesses out there that might be looking to expand . . .  people have adapted their business models and have been able to trade through [the pandemic], so the ability to have good,  competitive products that enable them to keep that business going is really important.”

You can watch the full interview where Adrian discusses the USPs of the new semi-commercial offering, how valuations are approached and income is calculated, and InterBay’s plans for the pure commercial space going forward, below.

Rob Jupp, CEO at Brightstar Financial — one of InterBay’s broker partners — added: “InterBay has an unparalleled breadth of expertise in the semi-commercial space, and it’s great to see them launch such a strong and enhanced proposition.  
“It’s essential for us as brokers to be able to access the best deals for our clients and, in my experience, InterBay can always be relied upon for their clear and consistent decision making.”

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