InterBay cuts B2L and HMO rates

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InterBay Commercial has cut rates on its buy-to-let and HMO ranges.

Variable rates will now start from 4.2 per cent, and five-year fixed rates, which are stress-tested at pay rate, will start from 4.4 per cent.

InterBay is also removing 70 and and 80 per cent LTV brackets for buy-to-let and HMO.

The lender says this is to provide a simpler product ranges to meet clients’ needs.

In a further move, buy-to-let and HMO loans above 75 per cent LTV will now be available up to £1m.

The lender is part of specialist lending group OneSavings Bank.

OneSavings Bank head of second charge & commercial lending Darrell Walker says: “The new pricing and simplification of our product range forms part of our commitment to provide brokers with access to a competitive and compelling proposition for their specialist clients.

“These changes complement the improvements we have been steadily making to our offering throughout the year, matching changing market needs, and will ensure we are at the forefront of our brokers’ minds.”