A direct result of the growth within the lender's underwriting team, InterBay now offer fully credit checked and manually underwritten conditional offers within 24 hours to its commercial intermediaries.
Research has also shown that Intermediaries have also responded well to the commercial application tool launched with Trigold back in May. The tool enables mortgage brokers to quickly and easily submit a commercial referral directly over from their preferred sourcing systeml.
Anna Bennett, marketing director at InterBay Commercial, commented: “We continuously strive to streamline the commercial mortgage application process. Our capacity to turn around conditional offers in 24 hours for brokers and in just 6 hours for our packager partners stems from our commitment to seek new ways of assisting intermediaries.
“We really believe that technology has a big part to play in bringing the commercial mortgage market to intermediaries - it was great to be the first commercial mortgage lender on Trigold but it is even better to know that intermediaries find the link so useful.
“InterBay is investing in a comprehensive online development programme which promises further exciting enhancements in the near future. However, this investment in technology will not be at the expense of manual underwriting; which is why have expanded our underwriting teams and will continue to do so in the future - we’re aiming for a perfect balance of people and technology."
Chris Terrill, from Lavell and Co, added: “It is great to see that investing in new tools which streamline the commercial application process is a business priority for InterBay Commercial. Since the link up with Trigold went live, I have submitted several cases through this system and find it to be an extremely fast and simple way of doing business. The system allows me to provide a quick and efficient service for my clients whilst earning a 2 per cent proc fee in the process.”
