InterBay launches term refurb product

Colin Bell, CEO of InterBay Commercial commented: 

“Following a successful trial of a product which the market was demonstrating clear demand for, InterBay is excited to add a term refurb mortgage to its popular product range.  It was clear in our conversations with Key Partners that there is demand for a term refurb mortgage product that allows a refurb period to allow the borrower to enhance the value and earnings potential of real estate with a view to holding.”

“Whilst there is plenty of supply of bridging finance in the market some borrowers are looking for a long term product with a period during which the property will be vacant to allow them to undertake refurb.  Having in house surveyors who complement the external valuations that we always undertake allows us to expertly assess and underwrite such mortgages.” 

Tony Sutton – Specialist Commercial Finance, said:

“We are delighted with this new product which demonstrates InterBay’s commitment to the ever evolving marketplace and continued support to its Key Partners.”