YBS Commercial Mortgages plans to double its workforce in 2024, a significant increase that builds on the 18% growth observed in 2023, resulting in a total team of 105.
This expansion is part of the lender’s strategy to enhance support for its clients, especially across regional areas, amid a downturn in market activity.
The initiative includes the creation of a new London Hub and the establishment of dedicated teams to support commercial investment business and a restructuring of the sales team for improved client support.
Despite a 45.2% decrease in commercial real estate transactions last year, YBS Commercial managed to grow its balance sheet by 21.5%, achieving over £0.5bn in completions. Notably, 73% of this funding, amounting to £368.2 million, was directed towards the private rental sector, highlighting the strong demand for private rented housing in the face of recent landlord challenges.
Tom Simpson, managing director of YBS Commercial Mortgages, remarked: “The last 12 months have been challenging for the industry, but we’ve taken the opportunity to improve our relationship model and the dedicated personal service we are known for, so that we’re in the best possible position to support our clients when things do, inevitably, bounce back.”
He further emphasised the company’s solid balance sheet as a foundation for providing consistent support during volatile times and its commitment to community impact through support to landlords and businesses. Simpson also noted the lender’s ongoing efforts to refine its products and services based on broker feedback, mentioning recent enhancements to its buy-to-let stress rate for increased landlord flexibility.
“Our commitment to making a real difference in local communities, via the landlords and businesses that serve them, is stronger than ever, and our recruitment drive and internal process review will ensure our teams are always available whenever and wherever brokers and their clients need them,” Simpson added, hinting at more product and service innovations to come.
