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InterBay Commercial

Mortgage Type

Buy To Let

Property Value (min)


Advance (min)

Currently £500,000 minimum until further notice.

£100,000 (less will have a 2% load on the margin) £100,000 for Refurb products

Advance (max)

£1,500,000 to 75%. for single units - £70% LTV for <7 bed HMO/MUFB - Larger HMOs/MUFBs available up to 80% LTV Properties over £2,000,000 are considered. Exceptions and portfolios considered.

Term (Max)

30 years

Minimum Age

20 years

Maximum Age

85 at the end of the mortgage term

Family Cash Gift Deposit

Yes - from a direct relative

Family Gift of Equity Deposit

Yes - Family members credit needs to be checked

Income (min)

No Minimum Income for standard cases
Minimum UK equivalent income of £50,000 for ex pat cases


No restrictions on numbers with other lenders- maximum £15,000,000 (higher exposure can be considered) to a single customer. (InterBay/OneSavings Bank/ Kent Reliance Building Society)

Interest only considered on all property types up to a max term of 30 years, Interest only term over 10 years attracts an additional 0.50% loading from 11-30 year terms.

36 month tenancies can now be considered:
• The AST provides for a rent review every 12 months or less
• A minimum Debt Service Coverage ratio of 125%
• A maximum LTV of 75%

Holiday lets considered up to 70% LTV on a residential investment basis available for Ltd company also.

Let to Buy (Turning Residential into Buy to Let)


DWP Tenants


Ex-Local Authority Properties

Consider both houses and flats. Flats are considered providing more than 80% of the block is privately owned/owner occupied.
50-79% private/owner occupied would need to be assessed as an exception to criteria. Cannot consider if less than 50% of the flats owner occupied.

Minimum years remaining on leasehold property

65 years remaining at the end of the proposed mortgage term

Minimum Ownership

No minimum ownership period
before remortgage considered. All cases considered on own merits

Permanent rights to reside and remain

Yes - (unless Ex-Pat).
Tier 2 Visa - on a case by case basis, Tier 2 Visa’s can be considered on case merit. Subject to product loading.


Applicants must be professionals or employed in a senior position by a UK, EU or US agency or by a recognisable or traceable company
Applicants must have an existing residential or BTL property in the UK
Property must be located in London or the South East
Minimum loan size is £125,000
Minimum UK equivalent income of £50,000
Self-employed applicants must be professional, such as an equity partner in a law firm, professional contractor or a business owner with an internationally recognized accountant.

Self-employed applicants who only have a PO Box Address are not acceptable.

Applicants must have at least two years of UK commercial property ownership experience.

Applicants, including Directors and Shareholders of limited companies, must have a UK credit footprint, with a clean credit history for a minimum of three years.

If an applicant resides in Australia or Monaco, the property must be held in a limited company.

Applicants who live in Saudi Arabia, or who work/reside in any country on a banned or watch list, are not acceptable.

Additional requirements may apply depending on the country of residence, and these will be made clear in any offer document.

Mortgage payment must be by Direct Debit, in sterling from a UK bank.

Pricing likely to be 0.25% on margin and potential loading on fee also

Exceptions to this criteria are less likely to be sanctioned in comparison to non expat cases.

New Builds

All new builds considered.
New Build Flats up to max 75% LTV

Credit Score


Rental Calculation

BTL/HMO: The required Interest Coverage Ratio (ICR) will depend on the property type and whether or not we are lending to a limited company.

ICR will be calculated using a stressed rate of 5.5%, or the initial pay rate + 1.55%, whichever is higher.

However, the following exceptions apply:
if the case is a remortgage with no additional borrowing, ICR will be calculated using the initial pay rate + 1.05%, with no minimum stress rate.
if the 5 year fixed rate is being used, ICR will be calculated using the initial pay rate, with no additional margin or minimum stress rate.

Standard Property
Single dwellings
HMO/multi/student lets with up to 5 rooms.
Freehold blocks/titles of land with up to 4 residential units.
Personal Applicants
140% rental cover applies
Limited Company
125% rental cover applies

Specialist Property
HMO/multi/student lets with 6 or more rooms
Freehold blocks/titles of land with 5 or more residential units.
Personal Applicants
160% rental cover applies
Limited Company
145% rental cover applies

Semi-Commercial/Commercial: The Debt Service Cover Ratio (DSCR) is 125% of pay rate

Historic CCJ’s & Defaults

Ignored IF - registered more than 3 years ago and satisfied prior to application.
Ignored if registered and satisfied prior to 12 months prior to application.
Ignored if less than £300 regardless of date of registration. Must be satisfied prior to application.

Valuation Fees

Paid direct to lender at the lender fee scales

Maximum number of applicants

No maximum


Will lend in England and Wales


Access to InterBay commercial is available via selected Key Partners only

Missed mortgage payments

No Adverse in the last 2 years

Property Type / Commercial

HMO’s/MUFB's, student BTL. Multi-unit on 1 title, semi commercial, commercial investments units plus owner occupied commercial units.

No limit on the maximum number of bedrooms/units for HMOs/MUFBs

Available to trading Ltd Co. SPV’s, SIPPs, SASS's, Family/Discretionary Trusts and individuals


Will lend in England and Wales

Type of Credit Search conducted at AIP stage

Soft foot print only

Portfolio Landlords

Portfolio Landlords Accepted

Background Portfolio Requirements

– No maximum LTV for the overall portfolio
– A minimum rental stress of 125% at 5%

Portfolio Landlord Criteria

– No limit on the amount of lending with One Savings Bank
– No limit on the size of existing portfolio with other lenders

Additional Document Requirements

– Portfolio Schedule – All cases
– Business Plan – All cases
– Asset & Liability Statement – All cases
* Lender will accept client versions so long as covers the lenders minimum requirements

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