Interbay Commercial, the bridging finance, commercial mortgages and buy-to-let specialist finance provider, part of OneSavings Bank, has completed a £30m loan, secured on a mixed-use client portfolio.
The residential investment portfolio includes over 400 properties, which are located in central and northern England. The retained client wished to refinance and raise capital on this portfolio, which includes HMOs, houses, apartments and blocks of flats.
Due to the complex company structure, solicitors were involved from the initial stages to make sure the requirements of the client could be met.
Adrian Moloney, Group Sales Director, OSB Group commented: “This was an extremely complicated loan but one InterBay Commercial was able to accommodate due to the team’s in-depth technical expertise and knowledge.
Communication was key and everyone involved worked together to satisfy the requirements of the mortgage offer and to complete the loan and release the capital requested within the client’s timeline.”
Original article featured here…
Interbay recently enhanced its BTL range by increasing the maximum LTV limit across all products. The reintroduction of a maximum 80% LTV limit (previously 75%) will be supported by two new fixed rate products, a two-year and a five-year fix.