YBS Commercial Mortgages has cut rates by as much as 0.50% across its commercial investment range.
This means that commercial investors looking to borrow more than £1m can benefit from rates starting from 6.99% (was 7.49%).
Rates for those borrowing under £1m start from 7.40% (was 7.49%).
The 5-year fixed rate semi-commercial product, designed specifically for part-residential, part-commercial assets, was reduced to 6.90% (was 7.10%) up to 60% loan-to-value (LTV), and 6.95% (was 7.15%) to 70% LTV.
Commercial landlords also benefit from the changes, with a rate cut of 0.30% for selected products from the lenders’ buy-to-let (BTL) range, and the specialist houses in multiple occupancy (HMO) product was discounted by 0.30%, taking rates to 6.00% (was 6.30%).
The specialist holiday lets product was reduced by 0.40% – now at 5.95%.
Highlights from the new range include a 5-year fix for commercial investment at 6.99% up to 75% LTV with a 2% fee, a 5-year fix for BTL clients at 5.25% up to 65% LTV with a 3% fee, as well as a 5-year fix for BTL clients at 5.05% up to 65% LTV with a 5% fee.
Tom Simpson (pictured), managing director of YBS Commercial Mortgages, said: “We’re absolutely thrilled to start the year with great news for brokers, reducing rates right across our range of products, following the markets’ response to pre-Christmas inflation data, which has led to a drop in swap rates.
“These changes reflect our desire to pass on value wherever we can to brokers and their clients, maintaining our commitment to the commercial market and retaining our competitive edge.
“We will continue to closely monitor market trends, taking these opportunities to support all our brokers and clients as much as possible as the year progresses.”
