InterBay Commercial, part of the leading specialist bank OSB Group, has increased the maximum loan-to-value (LTV) limit across its buy to let mortgages range.
InterBay Commercial has increased the LTV on its two and five year fixed rate buy to let products to a maximum of 80% (up from 75%). Further enhancements include removing the 20 bed limit on HMO applications and introducing no maximum loan size to support large loan cases.
Additionally, following the successful April launch of its new holiday lets range aimed at personal ownership and limited company landlords, InterBay Commercial have expanded on their offering by also adding a new 2 year fixed with £0 product fee to its holiday let proposition, on applications up to £500,000.
Emily Machin, Head of Specialist Finance, InterBay Commercial said, “By increasing the maximum LTV limit on our buy to let range to 80%, we’re confident this will appeal to our broker partners who have landlords looking to expand their portfolios, especially as we now have no upper limits on loan size or number of bedrooms/units for HMOs/MUFBs and have the capability of combining properties onto a single application which saves an enormous amount of time.
With regards to our new 2 year fixed product, we’ve certainly seen an increase in demand from investors who already have an understanding of the holiday lets rental market. We know that investors are always looking for new opportunities for capital growth, to boost their rental yield and differentiate their asset class so this addition to our range will be welcomed.”