"The new pricing and simplification of our product range forms part of our commitment to provide brokers with access to a competitive and compelling proposition"
Variable rates will now start from 4.2%, and 5 year fixed rates, which are stress-tested at pay rate, will start from 4.4%.
InterBay has also simplified its product ranges with the removal of the 70% and 80% LTV brackets for BTL and HMO. In a further move, BTL and HMO loans above 75% LTV will now be available up to £1m.
Darrell Walker, Head of Second Charge & Commercial lending, OneSavings Bank, said: “The new pricing and simplification of our product range forms part of our commitment to provide brokers with access to a competitive and compelling proposition for their specialist clients. These changes complement the improvements we have been steadily making to our offering throughout the year, matching changing market needs, and will ensure we are at the forefront of our brokers’ minds.”
