YBS Commercial Mortgages has introduced a new ‘Fast Track’ buy-to-let offering designed to speed up lending decisions for straightforward cases backed by experienced portfolio landlords.
The new range aims to provide cheaper rates and reduced documentation requirements for standard construction properties with an Energy Performance Certificate (EPC) rating of A to C and unit sizes over 35 square metres.
For eligible applications, the lender has committed to issuing an offer subject-to-valuation within five working days, provided supporting documents are submitted within 10 working days.
Borrowers may also be able to use title insurance, where criteria are met, to shorten completion times further.
If an application does not meet the Fast Track criteria but is otherwise suitable, applicants will be offered an alternative product from YBS Commercial’s standard buy-to-let range.
Fast Track loans will be available on an interest-only basis between £500,000 and £3m for purchases or refinancing.
The products include a 5-year fixed rate at 4.40% up to 65% loan-to-value (LTV) with a 2% fee, or a 5-year fixed rate at 4.60% up to 75% LTV with a 2% fee.
Angela Norman, managing director at YBS Commercial Mortgages, said: “We’re really pleased to demonstrate our continued support for portfolio landlords with this new range.
“The new service level agreement tailored specifically for this new product means we can provide clarity and certainty even earlier in the application process for those with more straightforward cases.
“This move also demonstrates our ongoing commitment to making improvements which enhance the customer journey wherever possible, acting on feedback from our valued brokers.”
