All trail ERCs have also been removed and borrowers now only need to provide three-months’ proof of rent.
It has also upped the maximum loan-to-value (LTV) to 75%, and rates now start at 4.69% following the reductions.
Emily Hollands (pictured), head of specialist finance at InterBay, said: “We’re ready for a strong commercial market in 2022 and to help support investors with their business plans, we’ve developed a range of products which offer a wide choice of lending solutions.
“Brokers applying for one of our mortgages will benefit from a personalised, flexible approach, delivered in partnership with our specialist finance account managers and aided by our in-house real estate team which has many years of experience supporting complex cases.
“We’re starting the year as we mean to go on and this is only the beginning of what we’ve got planned for the coming months.
“We’re really looking forward to creating more positive business outcomes for our broker partners and their clients.”
Jo Breeden, managing director of Crystal Specialist Finance, added: “InterBay are widely acknowledged as the ‘case solvers’ as their specialist in-house teams have so many years of knowledge and experience between them and they work closely with their broker partners to deliver innovative, tailored solutions for semi-commercial and commercial cases.
“Their hands on approach means that they can get deals done that other lenders may struggle with and their upfront decision process gives us and our clients peace of mind that once a case has been accepted, it will complete.
“InterBay’s strength is the ability to see beyond the obstacles and to take a proactive approach by immersing themselves in the project.
“It’s this kind of dedication that sets them apart and we’re looking forward to completing more cases with them in 2022.”
