InterBay Commercial, part of specialist lending group OneSavings Bank, has strengthened its buy-to-let proposition with simplified pricing and rate drops.
By adopting a single tier approach to pricing, InterBay aims to simplify their mortgage range for buy-to-let business and houses in multiple occupation (HMOs).
InterBay's buy-to-let and HMO product range will be simplified to a single tier in a similar way to the changes it recently made to its Commercial and Semi-Commercial proposition. This will result in a drop of up to 0.65% for those landlords borrowing less than £500,000.
However, fees will stay the same for loans above £1m (1.2%) and below £1m (1.7%).
“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,” Darrell Walker, Head of Sales, Second Charge & Commercial, said of the changes.