OneSavings Bank expands lending range options

Jessica Bird

May 7, 2020

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Specialist lending and retail savings group OneSavings Bank has expanded its lending range options, including an increase to 70% loan-to-value (LTV) on buy-to-let (BTL) and residential products. 

This follows the recent announcement that the business has resumed new business lending through its Kent Reliance for Intermediaries and Precise Mortgages trading brands for residential and BTL mortgages.

Precise Mortgages recently extended its range of products to include second charge loans and bridging.

Both brands will also be increasing the LTV on BTL and residential mortgage products to 70% on properties valued up to £750,000, using desktop valuations.

InterBay Commercial, part of the OneSavings Bank group has launched a new range of semi-commercial products, up to 60% LTV and BTL products up to 70% LTV, available on properties valued up to £1m.

While physical valuations remain unavailable during the government lockdown restrictions, semi-commercial applications will be underwritten up to the valuation stage and held until restrictions are lifted.

Alan Cleary (pictured), managing director at OneSavings Bank, said: “All our teams across the OneSavings Bank group have been working hard behind the scenes to ensure we have the infrastructure in place to best support our broker partners and their customers.

“During this time we have focused our resource on supporting pipeline cases first before opening up for new business across our various product lines.

“The great news is that from today, Precise Mortgages, Kent Reliance for Intermediaries and InterBay Commercial are officially resuming business and taking on new cases.

“Our broker relationships remain absolutely key and we’re committed to continuing to provide specialist lending solutions during these challenging times.”

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