It will be providing flexible space with approximately 51 units. The facility will help finance the site acquisition of the asset, situated in Ladbroke Grove, a growing hub for entrepreneurs and SMEs.
The arrangement follows the appointment of an onsite underwriter from Kent Reliance. Interbay’s underwriter will be present in Complete’s Southampton offices on Monday, Wednesday and Friday every week.
The bank is targeting businesses and investors looking to acquire or refinance commercial property investments and mixed use or owner-occupied commercial premises.
Y3S Bridging & Commercial has bought out competitor FTO Bridging Loans.
Shawbrook strategic partner “Crystal Finance” has completed a refurbishment deal on Shawbrook’s “100% of refurbishment costs lending” product.
Maximum LTVs was in the top five of almost every one of the eight different lending types that Knowledge Bank enables brokers to search on, its Criteria Activity Tracker for October has found.
Young didn’t comment on suggestions it could eventually go into later life lending after hiring Steve Cox from Hodge Lifetime.
The lender has also reduced all commercial and semi commercial term product rates by 0.25%.
The agreement gives members of The Right Mortgage & Protection Network access to Brightstar’s expertise and distribution of specialist residential, buy-to-let and second charge mortgages, short-term, commercial and development finance.
The product allows them to undertake refurbishment or carry out minor development before switching to one of LendInvest’s buy-to-let mortgages.