Crystal says InterBay return shows recovery of commercial finance

InterBay Commercial, who withdrew from the market in 2008, is a Hampshire-based specialist commercial mortgage lender offering highly competitive, flexible and innovative products aimed for a selected panel of key partners, including the Walsall-based finance specialist.

The mortgage product range includes rates from 4.95% above LIBOR, 75% loan-to-value across all sectors and loans from £50,000. They are open to individuals, limited companies and limited liability partnerships throughout the UK.

The reentry into the market follows the recent acquisition of InterBay Commercial by mutual OneSavings Bank plc.

Andy Reid, National Key Account and Relationship Manager for InterBay Commercial, said: 

"It's fantastic to be back lending and launch products to a market which we feel has been underserved and needs competition and quality service.
 
"We had a reputation for offering our partners experience, service and flexibility and this will continue, providing tailored underwriting wherever possible.  Our products will be offered through a panel of key partners through the UK, many of whom we have worked with and kept in contact over the years".

Roger Dewsbery, senior underwriter at Crystal Mortgages, added:

"The return of InterBay Commercial is most welcome, and it shows in no uncertain terms that the commercial market has made significant strides forward in 2012.

"These products expand our already extensive product range even further and gives us even more opportunities to complete business. The signs for the final quarter of the year and into 2013 are very encouraging indeed."

Crystal Mortgages recently revealed that it has issued terms of over £227.7m this year, an 18 percent increase against the corresponding period in 2011, meaning the company is performing at its best levels since 2008.

The company is an independent commercial mortgage, bridging and development specialist which operates in England, Scotland and Wales, providing a range of exclusive commercial mortgage products and their own exclusive funding lines, ensuring the customer receives the best possible product.