Product enhancements -Prime Semi-Commercial, Fixed rates

Jun 14 2016

Dear Partner

Following your feedback, we’re delighted to announce a series of improvements across our product range.

We have also combined our individual product rate sheets into a single Product Guide, including the changes, which you can view or download on our website.

Here is a summary of the changes, which will apply from today:

Prime Semi-Commercial

  • Following the launch of Prime Commercial rates in March 2016, a range for Semi-Commercial property is now available
  • Pay rates from 4.75%

Fixed Rates

  • Introduction of 3 and 5 year fixed rates, up to 75% LTV, on all Term loans
  • Simply add 0.1% to the variable rate for 3yrs, 0.2% for 5yrs
  • Includes Commercial and Semi-Commercial for the first time
  • Rental cover calculation on 5yr fixed rate loans will be at pay rate, with no stress test

BTL and HMO Pricing

  • We can now consider loans up to 85% for HMOs with up to 8 rooms
  • HMOs with up to 8 rooms will no longer have a loading applied, and will instead benefit from current BTL pricing

Fee and Rate Discounts

  • Arrangement fee for loans above £1m reduced by 0.5%
  • Existing borrower 0.25% fee discount on new loans now available after 6 months
  • Minimum fee as low as 1.2%
  • Large loan rates will apply to all new BTL and HMO loans, provided aggregate InterBay borrowing is greater than £500K

For more information, please visit our website, contact your Senior Business Development Manager or call the Sales team, on 0345 878 7000.

Thank you for your continued support.

Kind regards

Adrian Moloney

Sales Director

OneSavings Bank plc