InterBay Commercial is extending its residential investment and commercial bridging finance offering to its entire broker panel, following a pilot in 2017.
The lender, part of OneSavings Bank, says the motivation for the expansion is increased market demand for bridging loans.
It will offer rates from 0.44 per cent, and is also partnering with mortgage clubs 3mc and Buy to Let Club.
The clubs’ brokers will now have access to the new bridging proposition as well as InterBay’s wider range of commercial and specialist BTL products.
OneSavings Bank sales director Adrian Moloney says: “Demand for bridging loans grew by almost 40 per cent between Q3 2016 and Q3 2017 (ASTL figures), 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.”