Product details:

•    Maximum LTV 85 per cent;
•    Fees can only be added up to the 85 per cent LTV;
•    Max Loan Size £1,000,000 per property;
•    Pricing - Above 75 to 80 per cent, with 0.25 per cent loading, above 80 per cent to 85 per cent, 0.5 per cent Loading;
•    Arrangement Fee 2 per cent;
•    Max 75 per cent for New Build Flats & HMO; and
•    All other Buy to Let terms remain the same.

Commenting on the launch of the enhanced product, Colin Bell, CEO of InterBay Commercial, commented: “In 2014 I want to ensure that our product remains ahead of our competition whilst also maintaining our market leading service proposition through process changes. The first such enhancement is an extension of our Buy to Let offering from 75 per cent LTV to 85 per cent LTV.”

“The market through 2014 has demonstrated resilient property prices coupled with excellent borrower profiles and this has meant InterBay is comfortable with extending its credit proposition.”

Tony Sutton, Managing Director of Specialist Commercial Finance, said: “The introduction of an 85% LTV product to InterBay’s product range is a massive step forward for us and the industry in general. With its keen pricing and minimum 110% rental cover requirement, I believe this will be a very popular product with our business introducers.”

Brian Walters, New Source Commercial Finance, said: “I think that this product will be particularly attractive in situations where the client wants to capital raise by leveraging as much as possible against his/her existing portfolio.

I can see plenty of scope to do business on the back of this product – so this is very good news!”

Nick Harrison, Bespoke Business Finance, added: “We are all very positive about the new product and will be promoting this with our own introducers and property investor clients. It seems a very attractive offering and we are delighted and appreciative of being included”

Colin Bell concluded: “Through 2014 we will continue to improve our products and proposition to ensure that we remain market leaders in our niche. Coupled with the support of our Key Partners we will ensure that 2014 is a success for us all.”