InterBay cuts semi-commercial and commercial rates

The lender has cut rates by up to 0.50% across all of its semi-commercial and commercial ranges, giving investors the option to choose products on an interest-only basis, and has expanded the number of asset classes it will consider.

Rates now start from 4.69% and the maximum LTV has been increases to 75%.

All trail ERCs have also been removed and borrowers now only need to provide 3-months’ proof of rent.

Emily Hollands, head of specialist finance at InterBay, said: “We’re ready for a strong commercial market in 2022 and to help support investors with their business plans, we’ve developed a range of products which offer a wide choice of lending solutions.

“Brokers applying for one of our mortgages will benefit from a personalised, flexible approach, delivered in partnership with our specialist finance account managers and aided by our in-house Real Estate team which has many years of experience supporting complex cases.

“We’re starting the year as we mean to go on and this is only the beginning of what we’ve got planned for the coming months. We’re really looking forward to creating more positive business outcomes for our broker partners and their clients.”