Semi Commercial Asset 1920 × 507 Px


InterBay provides £8m facility to acquire a large, part vacant semi-commercial asset.

  • Semi-commercial asset comprising 26 units as 19 flats and 7 commercial units
  • Loan size over £8m at 67% LTV for a term of 10 years, interest only
  • 4 commercial units vacant requiring refurbishment

A client contacted their broker as they were looking to invest in a semi-commercial property in Essex. The building featured nineteen flats above seven commercial units. All of the flats were already let out, however four out of the seven commercial units on the ground floor were vacant and required refurbishment prior to re-letting.

The broker got in touch with InterBay to discuss loan options for their client. As not all the commercial units were currently let out and improvement works were required, research was completed to determine the severity and cost of any works, as well as ensuring the current level of passing rent supported rental coverage vs mortgage costs by a minimum of 100%.

In addition, the property was located in a strong city centre location where marketability periods were short and demand was high. This gave us further confidence they’d be able to successfully let out all the units quickly once refurbishment works were completed and would increase the rental cover further.

The client had already completed an early valuation instruction and with engagement between Mo Parmar, Specialist Finance Account Manager, Real Estate and our Transactional Credit Committee, we were able to get an upfront decision on proceeding which provided the client the confidence that the case would be accepted prior to spending valuation and solicitor fees. We were able to move from offer to completion in just two-and-a-half weeks.

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Davey Gurm

Specialist Finance Account Manager
Areas covered

London and Greater London


I joined the team as a specialist finance account manager in 2021 after holding similar roles at a number of other financial services companies. I enjoy interacting with brokers and am dedicated to supporting our ongoing commitment to strengthen relationships with all of our intermediary partners.


Kevin Beale

Specialist Finance Account Manager
Areas covered



I joined the company more than seven years ago, initially as national sales manager, then as new build distribution manager, before moving over to my current role. I love working closely with my broker partners and helping them to access products that their clients might struggle to get on the high street.

Mo Parmer (1)

Mohinder Parmar

Specialist Finance Account Manager
Areas covered

London and South East


I joined the group in 2022 after more than 20 years of experience working in banking, first as a private banker then as a relationship manager looking after my broker partners. The thing I love especially about specialist lending is that every case I receive is different with its own set of challenges, so when I’m able to finally get it over the line it gives me a real sense of achievement. I’m really looking to helping you with your complex cases and showing off our exciting proposition.


Charlotte Parker

Specialist Finance Account Manager
Areas covered

South West


I’ve been supporting brokers in South West ever since joining the company in April 2019. With nearly 20 years of experience working in financial services, I’ve developed a detailed knowledge of the mortgage market which means I’m perfectly placed to help you with your cases. Whatever support you need, I’m here to provide solutions to complex cases, and diffuse and resolve any issues that may arise during the processing of an application.

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This information is for mortgage professionals only and not intended for use by the general public. All rates, programmes and pricing are subject to change at any time and without prior notice. Mortgages are subject to valuation and approval.