InterBay launches prime commercial range
InterBay has launched a commercial product range for prime investors letting out properties to established tenants.
Interest-only, fixed rate and variable rate options are available to a maximum loan-to-value of 75% with a minimum loan amount is £250,000.
Adrian Moloney, sales director at OneSavings Bank, said: “Our key partners and their clients have grown used to benefitting from the specialist nature of InterBay’s proposition, and this enhanced commercial investment offering is no different.
“This new product range will, of course, be supported by individual case assessment, ensuring that InterBay remains a lender that key partners can trust.”
Rates on 5-year fixes stand at 5.50% to 55% LTV, 5.75% to 65% LTV, 6% to 70% LTV and 6.25% to 75% LTV.
Its 3-year fixes meanwhile stand at 5.25% to 55% LTV, 5.50% to 65% LTV, 5.75% to 70% LTV and 6% to 75% LTV.
Loans over £750,000 are priced 0.25% higher.
InterBay’s definition of an ‘established tenant’:
Must have been established for a minimum of three years
Must be able to show a minimum three years accounts (via Companies House if need be)
For retail tenants we will be looking for a national name; or for a regional operator, multiple (min three) outlets