InterBay Commercial has honed online mortgage calculation technologies that are already widely used and well established in the residential market and has tailored them for the commercial market. Available twenty four hours a day via the InterBay Commercial website, intermediaries can ‘build a mortgage’ by inputting basic client and property details into the calculator, and at the click of a button, it can compute monthly repayments, the interest rate and even the proc fee.
Anna Bennett, marketing director said: "We’re striving to streamline the commercial mortgage application process and to assist intermediaries to the best possible degree. The new online calculator allows intermediaries, whatever their level of experience in dealing with commercial mortgages, to take control of the application process and tailor make deals that best suit their clients. The new system is designed to be quick and easy to use and to make the lives of intermediaries that little bit easier.”
Aside from being extremely user-friendly, the facility offers flexibility by giving users the opportunity to modify and tailor the deals. For example, the borrower can opt to pay a completion fee to reduce the interest rate, or they can change the loan term to decrease the monthly repayment. Intermediaries can therefore be secure in the knowledge that they are getting an arrangement that best meets the individual needs and financial circumstances of their client.
