YBS Commercial extends 5% fee buy to let offer up to 70% LTV
YBS Commercial Mortgages is adding a new option to its buy-to-let range this week in a bid to support landlords.
The commercial lender has introduced a new product, available now for corporate buy-to-let clients who are borrowing more than £1 million, up to 70% LTV, which comes with a competitive rate of 5.30% fixed for five-years along with a 5% arrangement fee.
The new offering follows in the footsteps of changes introduced by the commercial lender in October, where a five-year fix at 65% LTV was introduced for loans of more than £1 million with the same 5% fee, allowing investors the choice of benefitting from a better rate by paying a higher fee upfront.
Tom Simpson, managing director of YBS Commercial Mortgages, said:
“We introduced the original five percent fee product in October, following broker feedback that lower rate, higher fee offerings provide more choice for investors.
That’s why we’re delighted to be able to extend this up to 70% LTV, offering this option to investors with lower levels of equity and ensuring that we remain competitive, listening and reacting to the needs of our brokers and borrowers at all times.”