<
p>InterBay Commercial has disclosed to B&C that in line with its recent growth it has enhanced its pricing matrix and current offering.
Jason McGee-Abe heard from Kevin Jones, Sales & Marketing Director at InterBay Commercial, to find out more about its growth and new initiatives…
Staff
Since our launch [Tuesday October 16th 2012], we have more than trebled our staff numbers and we're still looking to recruit more people in line with our new growth plans that we've recently initiated.
At this moment in time, we're looking to recruit further field business development managers and additional internal loan management staff.
We had to bring this forward from our original business plan due to the high level of good quality business we have received and completed. The enquiries we are receiving are way beyond the level of our original expectations.
Steady growth in terms of business introductions and business written has always been the order of the day and our focus on quality rather than volume introductions is testament to our organic growth seen since our re-launch.
Key Partners
In line with the staff expansion plans we will now broaden our introducer base and accept business from more key partners. Our original key panel of 30 will now gradually increase to 60 key partners by the end of our first year, and this process is already underway.
Alongside our expansion we will also be hosting regular regional training days over the next few months. This follows the highly successful ‘Meet the Team’ day we held in London, attended by a panel of our key partners, which gave them the opportunity to hear more about their role in the day to day operation as well as current deals being discussed.
Product Range
We don’t have a limit on levels of enquiries coming through and we can facilitate funding for much larger loans, but our focus will always be the quality of the loan.
On our re-launch, our products ranged from £75,000 to £1 million, with larger loans by exception up to £5 million.
We are now happy at looking at larger loan sizes up to £10 million, but can also look at deals higher than this. For example, the largest case we’re currently reviewing is for £15 million.
Pricing matrix
Our pricing matrix is always being reviewed, in line with market conditions, with continued product flexibility and change in pricing structures being seen from time to time. One such point, taking place with immediate effect, is to remove our interest-only loading on all products. We are also still one of the only lenders which entertain interest-only facilities up to 30 years.
New products
We have further product innovations in the pipeline, which includes some elements of development finance and a specialist residential property investment scheme (RPIS) launched.
Further details will be announced shortly.
InterBay Commercial has disclosed to B&C that in line with its recent growth it has enhanced its pricing matrix and current offering.
Jason McGee-Abe heard from Kevin Jones.
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