The range, which recently had maximum LTV limits increased to 80%, now has a 0.25% reduction on rates. The lender has also removed incremental early repayment charges (ERCs).
The two-year fixed rate product is now available from 3.99% and the five-year fixes from 4.19%. For the first year, ERCs will be set to 4%, then lowered to 3% for the remaining time of the fixed rate period.
There is no maximum loan amount, no maximum property value and multiple properties will be accepted on a single loan. This range is offered to individual clients, limited companies, trading companies, trusts, SPV and other complex ownership structures will also be considered.
Emily Machin, head of specialist finance at InterBay Commercial, said: “It’s apt that as the industry celebrates 25 years of buy to let, that this product launch marks our absolute commitment to the buy-to-let market. We’re certainly looking forward to creating tailored business solutions for our broker partners.
“We’ve earnt a strong reputation for building robust relationships and delivering innovative buy to let solutions for complex and multifaceted deals and this launch means we’ll be able to do even more.”
Original article featured here…
Interbay recently 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.