YBS Commercial Mortgages is increasing the proc fee for brokers can expect when placing a buy-to-let case with the lender.
Effective immediately, and applicable to all new buy-to-let applications – including those for the specialist range (houses of multiple occupancy (HMOs) and holiday lets) – brokers will now receive 1% of the total deal value once completion has taken place (was 0.75% for buy-to-let cases).
This brings the buy-to-let offering in line with the lender’s commercial investment product range and reflects the team’s ongoing commitment to enhancing its proposition.
At the same time, YBS Commercial is also reducing rates on its buy-to-let range by 0.05%, including its specialist products.
The new buy-to-let product rates start from 4.70% for a 5-year fix up to 55% loan-to-value (LTV) on loans over £750,000, with a 3% fee.
Other highlights include a 5-year fix at a reduced rate of just 5.40% for loans on HMOs comprising up to six bedrooms, up to 75% LTV, with a 2% fee.
Angela Norman, managing director of YBS Commercial Mortgages, said: “We’re thrilled to take this step, aligning our procuration fees across the board, recognising the value that brokers bring to the lending process, their hard work and dedication to each and every case, and the critical importance we place on our partnerships with them.
“In addition, we’re really pleased to be able to improve the competitiveness of our buy-to-let range, offering better value for landlords and investors, including those looking for a specialist product offering.
“Each of these changes is part of our ongoing commitment to identifying and making improvements which benefit both our brokers and customers wherever we possibly can.”
