InterBay Commercial set to extend bridging finance proposition, reveals Moloney

InterBay Commercial

OneSavings Bank's Adrian Moloney says there are no plans to take "our foot off the gas" in the quest to fulfil the appetite amongst brokers for tailored products that will help clients bridge efficiently.

His comments come as InterBay Commercial, part of specialist lending group OneSavings Bank, announced it is extending its residential investment and commercial bridging finance proposition to its entire broker panel, following a successful trial in 2017. Following strong demand, InterBay is now allowing a far wider market to take advantage of the proposition.

Key product features include rates that start from 0.44% per month, coupled with InterBay’s renowned flexibility on complex case assessment.

InterBay is also pleased to announce its new partnerships with mortgage clubs 3mc and Buy To Let Club, whose brokers will now have access to the new bridging proposition as well as InterBay’s wider range of commercial and specialist BTL products.

And sales director Mr Moloney said: “Demand for bridging loans grew by almost 40%1 between Q3 2016 and Q3 2017, and 2018 is promising more of the same. With such strong demand across the industry, we’re not planning to take our foot off the gas, especially after such a positive response to our trial.

"There’s clearly a lot of appetite amongst brokers for tailored products that will help their clients bridge quickly and efficiently, so I’m also very happy to announce that we’re now able to offer this proposition through our new partners 3mc and Buy To Let Club as well as our current partners on the InterBay broker panel.”

Doug Hall, director of 3mc commented: “We are thrilled to be partnering with InterBay, demonstrating 3mc’s continued support for directly authorised intermediaries. InterBay’s strength and innovative spirit are evident in their new bridging proposition.

"Taken in conjunction with their existing range of commercial and specialist BTL products, it provides wider choices for our customers and coupled with their customer centric approach is hard to beat.”

Ying Tan, Managing Director, Buy to Let Club, said: “We’re delighted to be one of two clubs chosen to support InterBay in this ground-breaking new proposition. It’s great to see a commercial lender taking this bold step and making complex mortgages more accessible to the wider market. I know that our members will welcome these enhancements wholeheartedly.”

Carl Eldridge is a journalist with more than 25 years’ experience working on local and then national newspapers, including a spell on the City Desk at the Daily Express, before switching from print media to the internet.

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