YBS Commercial Mortgages is implementing changes to its product suite this week, including a rate reduction on its 5-year fixed-rate semi-commercial product.
The product, tailored for part-residential, part-commercial assets rented out as investments, is aimed at providing better support to local businesses and the economy.
Starting today, landlords will benefit from a rate of 6.45% on loans up to £20m and up to 70% loan-to-value (LTV).
The lender, recently awarded ‘Best Service from a Commercial Mortgage Provider’ at the 2023 Business Moneyfacts Awards, is also introducing a tiered pricing structure for its buy-to-let range based on loan amount.
There will be no changes for deals valued over £1m. However, for those valued at £1m or below, the lender is adding 0.20% to both the 65% and 75% LTV products.
YBS Commercial confirms no changes to its new commercial investment product, launched last month, which offers loans on various commercial properties at a competitive rate of 6.99% up to 75% LTV on a capital and interest repayment basis or 7.15% to 65% LTV on an interest-only basis.
Tom Simpson, managing director of YBS Commercial Mortgages, said: “We’re really pleased to be able to reduce rates on our semi-commercial product.
“This change will enable us to stay competitive in this space, maintaining a good product mix and supporting local business investors who rely on diversified income streams.”
He added: “The buy-to-let changes mean that for portfolio landlords looking to borrow larger amounts, we’re holding rates in what is currently a difficult market environment. This speaks to our commitment to support the sector as a strong, stable lending partner.
“For smaller loans, while needing to reflect current market conditions – which include increased mortgage funding costs – we’ve kept the rate increase to the absolute minimum to ensure we continue to provide clients with the value they expect from us as a commercial lender.”
