InterBay Commercial, part of specialist lending group OneSavings Bank, is extending its residential investment and commercial bridging finance proposition to its entire broker panel, after a successful trial in 2017.
Key product features include rates that start from 0.44% per month, coupled with InterBay’s flexibility on complex case assessment.
InterBay has also partnered with mortgage clubs 3mc and Buy To Let Club, whose brokers will now have access to the bridging proposition and InterBay’s range of commercial and specialist buy-to-let products.
Adrian Moloney (pictured), sales director, OneSavings Bank, said: “Demand for bridging loans grew by almost 40%1 between Q3 2016 and Q3 2017, and 2018 is promising more of the same.
“With such strong demand across the industry, we’re not planning to take our foot off the gas, especially after such a positive response to our trial.
“There’s clearly a lot of appetite amongst brokers for tailored products that will help their clients’ bridge quickly and efficiently, so I’m also very happy to announce that we’re now able to offer this proposition through our new partners 3mc and Buy To Let Club as well as our current partners on the InterBay broker panel.”
Doug Hall, director of 3mc, said: “We are thrilled to be partnering with InterBay, demonstrating 3mc’s continued support for directly authorised intermediaries.
“InterBay’s strength and innovative spirit are evident in their new bridging proposition. Taken in conjunction with their existing range of commercial and specialist BTL products, it provides wider choices for our customers and coupled with their customer centric approach is hard to beat.”
Ying Tan, managing director, Buy to Let Club, said: “We’re delighted to be one of two clubs chosen to support InterBay in this ground-breaking new proposition.
“It’s great to see a commercial lender taking this bold step and making complex mortgages more accessible to the wider market. I know that our members will welcome these enhancements wholeheartedly.”