YBS Commercial Mortgages has launched a new buy-to-let product, available for corporate buy-to-let clients borrowing more than £1m at 65% loan-to-value (LTV), which comes with a competitive rate of 5.25% fixed for five-years and a 5% completion fee.
The commercial lender is also cutting rates across its buy-to-let suite by 0.20% in a move designed to support commercial landlords, providing a more competitive product range.
Highlights of the new range include a 5-year fix at 65% LTV at a rate of 5.95% on loans of over £1m, a 5-year fix at 65% LTV at 5.75%, and a 5-year fix at 75% LTV at 5.95%.
Rates on the lenders’ specialist buy-to-let product offerings have also been reduced.
This applies to the Housing of Multiple Occupancy (HMO) product and the Holiday Let products, which have been reduced by 0.20% to 6.50% and 6.55% respectively.
Both products come with a 2% fee.
Tom Simpson (pictured), managing director of YBS Commercial Mortgages, said: “The new buy-to-let product is inspired heavily by feedback from our brokers that lower rate, higher fee offerings are attractive to investors – offering them better choice, and helpful with affordability.
“We’re also really pleased to be able to reduce our rates across the buy-to-let range following a downward trend in market swap rates.
“These changes reflect our desire to remain as competitive as possible for all our brokers and customers in a challenging market.”
