InterBay introduces joint representation

Commercial lender InterBay, part of OSB Group, has introduced joint representation to its legal process to help speed up cases, supported by an updated conveyancer panel.

The change offers streamlined communication as the same solicitor acts on behalf of both parties.

Completions are typically faster due to less paperwork and more efficient processes, while borrowers have more control over legal costs. Fee scales have been removed and replaced with quotation direct from the broker’s chosen firm.

Last week, InterBay announced a number of significant changes to its proposition including rate reductions, a lower minimum loan amount and a new range of owner-occupier products to help support brokers with commercial clients.

Marc Callaghan (pictured), head of commercial lending at InterBay, said: “We're always striving to improve the service we offer across commercial, semi-commercial, buy-to-let and bridging sectors so we know that these changes will be welcomed by our broker partners.

"Not only will these changes speed up the conveyancing process but we’ve updated our panel to reflect the in-depth knowledge and expertise needed to successfully support the new process.”