Colin Bell, CEO of InterBay Commercial, part of the OneSavings Bank PLC, commented: “Earlier this year I said I wanted to enhance the InterBay proposition with our Key Partners and this is the first non-product announcement for 2014. There are a group of Key Partners who in 2013 demonstrated a true partnership with InterBay in terms of embracing our process, delivering volume and working closest with us. I am delighted to extend the opportunity for them to package most of their InterBay buy-to-let business, including instructing valuations via Quest and our panel manager.”
“This will give the Key Partners greater control and responsibility and will ensure that once the case gets to InterBay we will move it to completion very quickly. We have demonstrated in the market that we are excellent at getting cases to Formal Offer and Completion very quickly with certainty, leaving the competition way behind. The plan is to go to Formal Offer within 72 hours of getting a fully packaged case, and as the market knows, we can complete cases in a matter of days from Formal Offer.”
Brian Walters of Newsource Commercial Finance, commented: “As the only Gold Key Partner for InterBay in the North of England this initiative gives us a tremendous opportunity to stand out from the crowd.”
James Hardwick of Charleston Financial, said: “This demonstrates the mutual confidence with InterBay and their gold partners; by putting us in control of the whole process we have the ability to turn remortgage and auction cases around within 2 weeks and provides a more streamline service for our clients and introducers.”
Jamie Dunckley of Bespoke Business Finance, added: “We are excited that this new streamlined approach gives us control of key elements of the process. This will reduce the time taken both to produce a mortgage offer and provide peace of mind to our clients.”
Product details
• Single self-contained unit of occupation on an AST;
• Maximum LTV 85 per cent;
• Fees can only be added up to the 85 per cent LTV;
• Max Loan Size <£750,000 per property; and
• Max 75 per cent for New Build Flats, all other Buy-to-Let terms remain the same.
Colin Bell concluded: “This extension was announced at a special Gold Key Partner event held yesterday and was very well received. I want to give the Key Partners who embrace our process the deserved responsibility to take greater control of their cases. I would also say that there are a number of Silver Key Partners who have the ability to step up to being Gold and I look forward to seeing this group grow.”
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