Off the back of its October record month, the lender launched three further incentives to strengthen its bonds with Key Partners and has as a result completed a new record month in November.

The Hampshire-based commercial lender refunded half of the booking fee for qualifying completions in the month of November. InterBay also agreed discounted fees with its legal teams Clarke Wilmott and Paris Smith LLP.

InterBay’s double broker incentive in October saw the lender give cash back to the borrower for their booking fee on completion. Another offering and saving for the borrower saw InterBay’s lawyers also agree to reduce its lender legal fees by 20 per cent for October completions.

InterBay is going from strength-to-strength and has completed more loans than ever before and with some of its fastest completions to date.

Andy Reid, National Key Account & Relationship Manager, said: “After a fantastic month for funded loans in September, we had a successive record-breaking month for completions. In November, we had deals ranging from several million pounds in value to those requiring speed of service and turnaround to be of the essence, with drawdown being affected within days of the Formal Offer being issued.

“All of this goes to show that InterBay are well positioned in the market with products, pricing, service, a desire to work hand in hand with their Key Partners and introducing brokers, as well as liaising very closely on a day-to-day basis with the legal teams at Paris Smith and Clarke Willmott, who are integral to the continued growth of the business.”

Andy highlighted one particular highlight on the deal front: “Another specific highlight during November was a deal proposed and the requirement of the speed at which the funding was needed to be in place. Our Key Partners, Bespoke Business Finance presented a complex and large multi-unit property where the loan required exceeded £5 million.

“The valuations were carried out and received back into H/O on November 15th and following review and Credit Approval, the Formal Offer was issued on November 19th. The completion took place six working days later and demonstrates the ‘can do’ attitude of the Head Office staff, legal team and of course our Key Partner. Another satisfied customer and the prospect of more deals from the same client to follow as a result.”

InterBay has been extremely active with events during November, which included being an exhibitor at The Finance Professional Show at Olympia. Andy commented: “These shows are a great opportunity to meet with the existing members of the distribution channel as well as receiving feedback on our Key Partners from the introducer broking market who utilise the Partner’s as a successful route to closing deals for their clients with InterBay products. It has also been very encouraging to receive such positive feedback from our peers at High Street lenders who have muted that InterBay are ‘a name that is constantly being talked about for all the right reasons’.

“There were also several visits from Key Partners to our Head Office with the idea being to further strengthen the already well-established relationship between staff from both sides of the business. These have proved particularly useful in not only putting names to faces but also as an education process in fully understanding and appreciating how the InterBay staff manage the deal from initial enquiry stage, through underwriting, valuation, processing, legals, completion and post completion areas.

“All in all, a great month and we continue to build on our current strengths.”

Growth plans are very much on track, as is the goal to make Q4 of 2013 a record period for InterBay.

With regard to 2014, Andy added: “We are looking to capitalise on the success we have achieved so far in 2013 and to do what we do best – we are here to fund loans, and that is our focus.”