The lender’s pricing will be aligned to asset quality and yield, with pay rates starting from 4.89% for commercial and 4.29% for semi-commercial.
InterBay has revamped its proposition by reducing rates and standardising pricing irrespective of the loan size.
The lender’s pricing will be aligned to asset quality and yield, with pay rates starting from 4.89% for commercial and 4.29% for semi-commercial.
Darrell Walker, head of sales, second charge and commercial, OneSavings Bank, said: “We’ve taken a fresh approach to the pricing of commercial and semi-commercial loans by rewarding a quality asset with pricing based on yield, even if the property is vacant.
“The adoption of this new pricing model and its simplicity reflects broker demand for more appropriate finance for better quality commercial and semi-commercial properties”.
Yields will be calculated by dividing market rent by market value (based on vacant possession).
