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OneSavings Bank expands lending range options including increase to 70% LTV on buy to let and residential products

Press Release; 07 May 2020

Following the recent announcement that OneSavings Bank has resumed new business lending through its Kent Reliance for Intermediaries and Precise Mortgages trading brands for residential and buy to let mortgages, it is pleased to confirm further enhanced lending options to support its intermediary partners.

Precise Mortgages recently extended its range of products to include second charge loans and bridging. From today, alongside Kent Reliance for Intermediaries, both brands will also be increasing the LTV on buy to let and residential mortgage products to 70% on properties valued up to £750k, using desktop valuations.

Yesterday, InterBay Commercial launched a new range of semi-commercial products up to 60% LTV and buy to let products up to 70% LTV, available on properties with a value of up to £1m. While physical valuations remain unavailable due to government restrictions, semi commercial applications will be underwritten up to the valuation stage, and held until restrictions are lifted.

Alan Cleary, Managing Director, OneSavings Bank, said, “All our teams across the OneSavings Bank group have been working hard behind the scenes to ensure we have the infrastructure in place to best support our broker partners and their customers. During this time we have focused our resource on supporting pipeline cases first before opening up for new business across our various product lines.

The great news is that from today, Precise Mortgages, Kent Reliance for Intermediaries and InterBay Commercial are officially resuming business and taking on new cases. Our broker relationships remain absolutely key and we’re committed to continuing to provide specialist lending solutions during these challenging times.”

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