Precise Mortgages and InterBay launch new bridging proposition

OSB Group has today (8th April) introduced an extensive range of bridging products through Precise Mortgages and InterBay, utilising a combination of expertise across both brands.

The specialist lender has brought out the two-tier offering in addition to its standard bridging finance loans, and it includes funding structural works and extensions for residential customers, and the conversion of commercial premises through the InterBay range.

The products aim to help with the current high demand for heavy, unregulated refurbishment, following a lack of available stock in the property market.

New bridging products from OSB Group include:

  • rates starting at 0.47% for both regulated and unregulated products through Precise Mortgages and InterBay
  • up to 75% LTV
  • a new development exit range up to 75% LTV through InterBay
  • conversions of houses into flats through Precise Mortgages and InterBay
  • conversions of commercial units into flats through InterBay
  • works that require planning permission available through Precise Mortgages and InterBay
  • an expanded solicitor panel, including dual legal representation, through InterBay

“This launch coincides with the changing property market, which includes the increased demand for HMOs and the changes in permitted development rights,” said Emily Hollands, head of specialist finance at OSB Group (featured in the video, above).

“From our own research and market knowledge, we know that investors are looking at a wider range of properties for conversion into residential units, as well as changing commercial usage from pure office space into a combined ‘work/eat/sleep’ offering. 

“With our combined expertise across both Precise Mortgages and InterBay, we’re confident in being able to offer the best support and knowledge across short-term lending, and this new product range cements our commitment.”

Rob Jupp, CEO at Brightstar Financial (also featured, above), added: “This is a really exciting announcement from OSB Group, and I’m so pleased to see such a comprehensive range of products.

“It’s wonderful to have InterBay back in the bridging market alongside Precise Mortgages, and their dual-branded approach offers the next level in terms of support and expertise. 

“This new product range is very timely for the market.”

The video where Emily and Rob discuss the product offering can be viewed above.

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