New Interactive AIP Request Form
Jun 19 2017
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
The new AIP request form should be used from 19 June 2017, with the current paper version still being accepted until 30 June. However, all new applications made after this date must be submitted using the new form.
Other changes being made
Along with the new form, we are also introducing a new valuation instruction process, which involves direct access with the underwriters during the decision-making process. This will provide your clients with greater transparency and help them decide whether they should financially commit to Interbay.
It’s also important to know that any portfolio that is not currently with Interbay Commercial will be subject to an interest rate stress test of 5%, and will need to meet or exceed an ICR of 125%.
Once you have an AIP, please contact us to provide a fully complete mortgage application form and to arrange a payment, so that you can then proceed to the valuation stage.