Positive and Interbay complete £1.55m loan
The loan was secured against six tenanted flats in East London with an aggregated value of £2.5m. It was offered at 4% over three month LIBOR with a 1.70% arrangement fee.
Chris Fairfax, managing director of Positive Lending, said: “Amongst challenger lenders InterBay offers competitively priced products for commercial, semi-commercial and residential investment but in our experience can deliver fast completions if required.”
Andy Reid, national key accounts manager at InterBay Commercial, added: “We are fast gaining a reputation for being able to complete deals with speed and this is another prime example of InterBay and the key partner working well together to achieve the target date.
“Well done to Chris and his team who have embraced the services we are able offer them and their clients.”