InterBay Commercial re-launches HMO and MUFB proposition for up to 20 bedrooms/units
InterBay Commercial, part of specialist lender OneSavings Bank, has today launched an enhanced product range for HMOs and MUFBs, which is available for purchase and remortgage applications. Properties up to 20 bedrooms/units can be considered with a maximum loan size of £1.5m up to 70% LTV. Larger loans will be considered on a referral basis and intermediaries should contact their senior business development manager to discuss specific cases.
Being part of one of the largest specialist lenders in the market, InterBay Commercial has been able to leverage its expertise in this specialised market and will be utilising long form valuations through their valuer colleagues to support this move, which will be welcome news to their broker partners.
Adrian Moloney, Group Sales Director, OneSavings Bank, said, “It’s great to see how quickly InterBay Commercial has been able to come back to market with such strong product offerings and to meet broker partner’s key requirements during these testing times. InterBay Commercial’s experience in the larger HMO and MUFB market makes them the natural home for this type of business. This enhanced range illustrates our commitment to the market as well as the confidence we have in our policies by being able to offer long form valuations.”
Speaking on behalf of Brightstar Financial, one of InterBay Commercial’s broker partners, Rob Jupp, CEO, said, “InterBay Commercial are quite rightly recognised as leaders within their field, they have an unparalleled breadth of expertise in the HMO and MUFB market and offer a high level of flexibility within their product range to accommodate this. As brokers, we know with their underwriting expertise and in house valuation support they can be relied upon in being consistent with their decision making. If there’s a way to get a case over the line, the InterBay team will go the extra mile to achieve it and that message remains just as true today.”