The product is designed to give investors and developers increased flexibility in the short-term.

SMEs remain optimistic with growth plans in place for 2024 as the picture begins to brighten.

Rates now start from 6.19% for a two-year fixed rate and 6.59% for a five-year fixed rate.

The Association says inclusion in the system will increase brokers’ visibility to lenders looking for partners.

InterBay’s new rates have reduced by 40bps.

Borrowers can convert the facility into a new refurbishment loan upon gaining planning permission.

32% of SMEs successfully funded in 2023 had been declined funding elsewhere, highlighting the essential role of brokers.

The Bank aims to work with its intermediary partners to expand the proposition and its market share.

Andy’s new role sees him take responsibility for the Bank’s corporate and SME customers.

The commercial lender has appointed a new portfolio and structuring director.