InterBay Commercial, part of specialist lending group OneSavings Bank, has announced that they are simplifying their mortgage range for Buy to Let (BTL) business and houses of multiple occupation (HMOs) by adopting a single tier approach to pricing.
Following similar changes it made to its Commercial and Semi-Commercial proposition, InterBay’s BTL/HMO product range will be simplified to a single tier, resulting in a reduction of up to 0.65% for landlords borrowing less than £500,000.
Fees are to remain at 1.2% for loans above £1m, and 1.7% below £1m.
Darrell Walker, Head of Sales, Second Charge & Commercial, commented, “As an established, specialist lender, we have a pool of expertise and experience that we have been able to draw upon to ensure that these changes strengthen InterBay’s competitive position and provide a significant price reduction to customers whilst minimising the impact on returns.”
For more information on this product set, please visit www.interbay.co.uk.