InterBay Commercial has launched a new range of buy to let mortgages aimed at investors looking for longer term fixed rates.
Available up to 75% loan to value, the new four and five year fixed rates are priced in two bands - for loans above and below £500k – and come with a reduced arrangement fee of just 0.25% of the loan amount for existing InterBay customers.
For borrowers with 35% deposit, pricing for loans below £500k start from 5.60% for a four year fixed rate and 6.00% for a five year fixed rate.
Loans above £500k start from 5.30% for a four year fix and 5.70% for a five year fixed rate.
InterBay Commercial which is part of the OneSavings Bank Group, is an intermediary only lender and can be accessed directly by Mortgages for Business.
Commenting on the range, Andy Reid, national key account and relationship manager at InterBay said:
“These new fixed rate products provide wider choice to our partners giving additional options for their clients who are seeking the peace of mind that fixed rate products can provide”.
John Eastgate, sales and marketing director at OneSavings said:
“The inclusion of the new range of fixed rate products reinforces InterBay Commercial as a real leader in terms of product innovation, partnerships and its professional approach to the commercial finance market.”