<
p>Interbay has announced a number of enhancements to its Buy to Let & Commercial lending proposition.
The changes were made after feedback from its key broker partners highlighted prospective enhancements to the underwriting process, including turnaround times.
Interbay has introduced discretion for its underwriters to waive the requirement for bank statements as well as eliminating the valuation review to reduce the process time by up to 48 hours.
National Key Account and Relationship Manager at Interbay, Andy Reid, said: “Listening to our brokers is central to the InterBay culture, and we pride ourselves on how we take action to respond to their feedback and evolving needs.
“Improvements to our processing and lending criteria is already generating a positive response from our key partners, having a positive impact on brokers’ client relationships.”
After requests from brokers, Interbay will now finance buy to let properties that are owned or to be owned by trading companies, and repeat BTL borrowers who took out a mortgage within 12 months will only need to provide an application form, valuation and confirmation in writing their circumstances have not changed.
Colin Bell, Product and New Business Director of InterBay, added: “Transparency between lawyers and brokers is essential to any market leading completion process.
“Being able to provide brokers with up to date information allows them to keep their clients fully informed, leading to a smoother completions process, and ultimately a stronger client relationship. We have no doubt that this will be a popular addition to our offering.”
Interbay has announced a number of enhancements to its Buy to Let & Commercial lending proposition….
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