I am delighted to announce that as of Thursday 7 October we will be introducing a new range of enhanced products in the InterBay Buy to Let range and whilst I appreciate that not all of you have direct access to InterBay I wanted to update everyone regardless as many can still access via other channels.
This is a significant enhancement that sees the following changes being made:
- All Early Repayment Charges (ERCs) will now apply for the initial fixed rate period only, (removing the ‘1% ERC overhang)
- All Buy to Let product rates reduced
- Fixed rates now from 3.99%
In addition to the removal of the Early Repayment Charge overhang, the new rates have been aligned to ensure there is no rate differentiator between personal and limited company ownership structures.
InterBay Buy to Let range highlights include:
- Multiple properties on one single loan (one admin fee, one account number)
- SPV and trading limited company buy to lets considered
- Large HMOs/ MUFBs– No limit on the number of bedrooms/ units
- Up to 80% LTV with no maximum loan amount and no maximum property value
- Expertise and experience in complex ownership structures
- A flexible approach to underwriting
I hope you will agree that this is a hugely exciting change to the InterBay Buy to let range and we would be very grateful for your support in marketing this to your members. As always we will ensure that the new literature to support this launch is issued to you as soon as possible.
If you would like to discuss this new range in more detail or require any additional support please don’t hesitate to get in touch with either myself, your dedicated Corporate Account Manager or our Specialist Finance Account Managers and we’ll be delighted to help.
