InterBay Commercial, part of specialist lending group OneSavings Bank, has decided to extend its residential investment and commercial bridging finance proposition to its entire broker panel, allowing a much wider market to take advantage of their offer, following a successful trial in 2017.
InterBay Commercial’s bridging product features rates that start from 0.44% per month, a loan term of up to 18 months, a 2% arrangement fee and a LTV of 75% on residential investment property and 70% on commercial property.
The firm has recently partnered with mortgage clubs 3mc and Buy To Let Club, who can also access the new bridging proposition along with the firms existing range of commercial and specialist buy to let products.
OneSavings Bank sales director, Adrian Moloney commented: “Demand for bridging loans grew by almost 40% between Q3 2016 and Q3 2017, and 2018 is promising more of the same. With such strong demand across the industry, we’re not planning to take our foot off the gas, especially after such a positive response to our trial.”
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