News

The festive season is upon us! Hopefully you’ve done all your shopping and are starting to relax a bit, ready to enjoy the Christmas countdown.

InterBay Commercial, part of specialist lending group OneSavings Bank, has appointed Matthew Taylor as a Senior Business Development Manager to cover the Midlands area as it continues with its strategy to provide full national sales coverage.

October 25 2018

From Thursday 25 October, we are delighted to announce the following: Reduced rates across all commercial and semi-commercial term products The introduction of dual legal representation for bridging loans up to £2,000,000.

From Monday 1 October 2018, the 3 month London Interbank Offered Rate (LIBOR), which is applicable to all InterBay products, increased to 0.80%, the first time it has risen above our minimum threshold of 0.75%.

InterBay Commercial, part of specialist lending group OneSavings Bank, has partnered with Brightstar Financial to expedite a loan of over £18m that facilitated the transition of a professional landlord’s portfolio into a corporate structure.

InterBay Commercial, part of the specialist lending and retail savings group OneSavings Bank plc (OSB), has partnered with Legal & General Mortgage Club. From today, Legal & General club members will be able to access InterBay’s range of commercial, semi-commercial, buy-to-let, HMO and bridging products.

We will be exhibiting at the annual NACFB Commercial Finance Expo taking place at NEC Birmingham. Doors will open at 9.30am on Wednesday 20 June 2018 for what promises to be their biggest exhibition yet.

We are pleased to announce that we are reducing the documentation required for portfolio landlord applications. These changes are designed to simplify and speed up applications for portfolio landlords, aiming to provide a more streamlined process overall.

InterBay Commercial, part of specialist lending group OneSavings Bank, is expanding its solicitor panel for all term loans, following a successful 2017 in which it surpassed all new lending targets.

InterBay Commercial, part of the specialist lending and retail savings group OneSavings Bank plc (OSB), has launched a new network partnership with Intrinsic Financial Services as it continues to seek to diversify and expand its existing distribution network.

Over half (51%) of the UK’s brokers have been approached by landlords looking to diversify their portfolios within the last six months, according to new research from OneSavings Bank, the specialist lending and retail savings group

The PRA’s new guidelines for portfolio landlords, which came into effect last October, have resulted in a flurry of mortgage brokers using specialist lenders for the first time, new research reveals.

From 1 April 2018, new Energy Efficiency Regulations are being introduced in an effort to reduce energy costs for tenants and improve a property’s overall energy efficiency.

OneSavings Bank plc, the specialist lending and retail savings group, is today announcing changes to its interest coverage ratio (ICR) requirements for all Buy to Let loans through trading brands Kent Reliance and InterBay Commercial

From 26 February 2018, the Buy to Let interest coverage ratio (ICR) applicable to both Standard and Specialist property types is being simplified, with some also being reduced, meaning your customers could potentially borrow more against their property.

Following the successful launch of our Bridging finance proposition last year, we are pleased to announce our competitive range of products is now available to all InterBay panel brokers.

InterBay Commercial, part of the specialist lending and retail savings group OneSavings Bank plc (OSB), has today announced a new sales structure to better support its broker network.

We are delighted to announce the launch of our brand new Broker Portal. This will enable online AIP requests, full application and document submission for the first time, with case-tracking to completion included.

We are pleased to announce that Interbay Commercial have been shortlisted for not one, but TWO awards at the Business Moneyfacts Awards 2018!

We are delighted to announce the launch of our new Ex-pat proposition, which will be available from 31 October 2017. The launch comes following useful feedback from brokers, along with a noticeable rise in applications that reflect the increasing Ex-pat market.

We are pleased to announce our new lending criteria for Portfolio Landlords in support of the PRA changes coming into effect on 1 October 2017. We wanted to share the new criteria with you as soon as possible, so that both you and your clients are fully prepared for the forthcoming changes. Our new criteria, accommodating the Portfolio Landlord changes, will commence from 1 October 2017. The criteria will apply when brokers are submitting cases for Portfolio Landlords, who can be identified as any borrower with four or more mortgaged properties.

Specialist lending group OneSavings Bank (OSB) has signed a deal with leading property risk software developer eTech to implement its online portfolio submission platform ahead of the PRA’s SS13/16 portfolio landlord underwriting standards coming into effect on 1st October. The solution, built on the backbone of eTech’s Buy to Let Hub, will give brokers one straightforward online solution, streamlining portfolio stress testing and income coverage ratio assessment to provide a rapid response to loan applications, all delivered through one simple broker dashboard for ongoing monitoring and management.

InterBay Commercial, part of specialist lending group OneSavings Bank, has announced that from today it will now provide Residential and Commercial Bridging finance for property investors in a move that simplifies its product proposition. Rates start from 0.44% and are initially available through a selected broker panel and will incorporate its existing range of short term lending options.

InterBay’s bridging finance range is ideal for those borrowers who:

  • Need to buy a new property or raise capital against existing BTL, HMO or Commercial property – quickly
  • Plan to acquire or remortgage a residential property with the intention of refurbishing it, then refinancing onto

As part of the ongoing improvements to our processes, we are pleased to announce the introduction of the new interactive AIP request form for all of our new applications.

New features of the form include:

  • All sections are clearly defined and more user-friendly
  • All irrelevant questions and fields are now hidden
  • All mandatory questions and fields are now highlighted
  • The form is available as a printable PDF

We are pleased to announce changes to our valuation fees and policy procedure. These changes will help us to provide customers with an improved standard of service and a better all-round experience.

InterBay Commercial, part of specialist lending group OneSavings Bank, has announced that they are simplifying their mortgage range for Buy to Let (BTL) business and houses of multiple occupancy (HMOs) by adopting a single tier approach to pricing.

InterBay Commercial, part of specialist lending group OneSavings Bank, has announced that Title Insurance is now available for its Developer Exit product for loans up to £2m. This recent change brings the Developer Exit product in line with its commercial and buy to let re-mortgage and purchase transactions.

Reduced rates across our Commercial and Semi-Commercial range supported with a new, simplified pricing structure, available now

From 21 December 2016, the way we assess affordability for Buy to Let (BTL) and HMO mortgages will change for all new AIP Requests. Affordability The minimum stress rate applicable for rental cover purposes will be 5.5%, or the initial pay rate plus 1.55%, whichever is higher. Remortgages where no additional borrowing is being raised will not be subject to a minimum stress rate, with rental cover being assessed against the initial pay rate plus 1.05%. 5 year fixed rate applications will continue to be stress-tested at the initial pay rate, with no additional margin or minimum rate applicable.

We are delighted to announce that our Developer Exit product now includes a new and competitive lower LTV pricing band, available for loans up to 65% LTV including fees and interest.

InterBay Commercial, part of the OneSavings Bank Group, has partnered with solicitors Paris Smith LLP to offer an exclusive lender and borrower incentive in October. For completions in October, all lender legal fees are to be reduced by 25%. If Paris Smith also acts for the borrower under Dual Representation, borrower legal fees will also be reduced by 25%, delivering savings directly to those taking out the loan.

InterBay Commercial, announces cuts to its entire range of Buy to Let (BTL) and HMO rates. The reprice is supported by simplification of the range.

We have made a range of improvements to our product range, simplifying it and improving our rates. This includes semi-prime commercial products, three and five year fixed rates and discounts on our fees.

Following your feedback, we have made some changes to our Refurbishment product range, aligning prices and simplifying the product literature. We have also made changes to our valuation fee scale, ensuring a consistent approach across the OneSavings Bank Group.

Following your feedback, we are delighted to announce that, with effect from 10 May 2016, your clients can opt for Dual Legal Representation by Paris Smith LLP on all InterBay loans. This means your client can now appoint a solicitor to act for them at the same firm which represents InterBay Commercial.