Refinances Block Of 15 Units 1920X507 Px

Buy To Let and HMO

InterBay refinances block of 15 units under exception policy

  • Refinance to enable future conversion
  • £1 million loan at 65% LTV on 10-year term 5-year fixed facility
  • Block of flats included 15 units - one of those units made the deal fall outside of policy

An investor got in touch with their broker for help in refinancing a block of 15 units. The block was made up of 10 residential flats and five retails units, one of which was a launderette. The client needed a £1 million loan at 65% LTV on a 10-year term with a 5-year fixed facility.

The broker contacted InterBay who told them the launderette would normally make the deal fall outside of policy, but that they would be happy to investigate the case further. The launderette would usually be viewed as high risk due to the use of chemicals however the cleaning requiring chemical use was being carried out offsite.

Upon investigation, InterBay’s underwriting and real estate teams decided that as the launderette was the last on the block and its cleaning was being done offsite, it wouldn’t present a risk to the other 14 properties. InterBay saw the potential strength of the application and found a way to make sure the smallest property on the block of 15 units didn’t bring down the whole case.

As the case including the launderette wouldn’t have met InterBay’s standard criteria, it was done under an exception policy. The other 14 units were fine and real estate were satisfied that the value of the property was sound and could be converted in the future. InterBay was able to offer the client the refinance deal they needed.

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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.