MortgagesApr 24 2018

SimplyBiz teams up with specialist lender InterBay

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SimplyBiz teams up with specialist lender InterBay

SimplyBiz Mortgages has added InterBay Commercial to its panel. 

The specialist lender is part of the OneSavings Bank Group, and the deal means SimplyBiz members now have access to commercial and semi-commercial lending, buy-to-let, house in multiple occupation (HMO) and bridging loans.

Martin Reynolds, chief executive of SimplyBiz Mortgages, said this move offers members more choice and flexibility as they now have access to higher loan-to-values (LTVs), extended loan terms, lending on vacant property and preferential rates for loans of more than £1m.

He said: "As more advisers look for support from specialist lenders to assist in meeting their clients’ more complex requirements, we feel that InterBay will prove to be an excellent addition to the panel. 

"Its highly attractive lending solution complements those already available within our specialist lending panel, and its competitive rates and manual underwriting will add to the positive experience felt by all parties involved."

Adrian Moloney, sales director for OneSavings Bank, said: "I am delighted to be offering SimplyBiz Mortgages Members access to InterBay's full range of products, underpinned with our extensive expertise and understanding of complex borrower types.

"Our well established nationwide team of business development managers are supported by experienced underwriters, including a dedicated bridging team, which is on hand to assess every case and provide guidance for a variety of complex lending opportunities.

"Members will also be able to take advantage of our new streamlined process with regards to our competitive bridging solutions which will enable them to respond faster to their clients’ needs."

Scott Gallagher, IFA and director of Leicester-based Rowley Turton, said: "Any improvement in range is clearly to be welcome and will no doubt allow advisers to better serve their clients. 

"It definitely would appear to give their members much more choice and flexibility and should be a win-win for all concerned, i.e. the advisers, their clients, the lenders and SimplyBiz.

"We’re not active in the market of non-residential lender so for us it will make no difference but if we were then it clearly would be an incentive to use SimplyBiz."

aamina.zafar@ft.com