InterBay makes major changes to refurb proposition

The Refurb product range now features new specific products for HMOs, rate reductions to Buy-to-let Refurb, an extension to interest roll up periods for Medium and Heavy Refurb and a new exit facility that enables borrowers to benefit from a HMO/BTL product priced the same as a Kent Reliance fixed rate product when a refurbishment is completed.

The Refurb product has now been extended to include re-mortgages for both BTL and HMOs and increase of interest roll up periods for buy-to-let have been changed, with the medium and heavy refurb interest roll up now at 10 and 12 months respectively.

In addition to the proposition led changes a rate reduction of 5 basis points across the range has been included.

Adrian Moloney, Sales Director, OneSavings Bank said:

“The enhanced HMO proposition not only features some of the most attractively priced rates in the market but is augmented by some outstanding features such as the interest roll up and revert to Kent Reliance’s buy-to-let fixed rate range. I would also like to mention and personally thank our key partners for their invaluable contribution during the consultation period in making this happen.”

“I am delighted to see InterBay Commercial deliver this new proposition following its extensive research with its key partners.  It is testament to the strength of its partnerships and the experience and knowledge of the various teams within OneSavings Bank that have helped create one of the truly innovative products to be delivered to the Commercial finance market.”