YBS Commercial completes £12m portfolio loan

By Bridging Loan Directory 17th January 2023

YBS Commercial Mortgages has started the new year with a bang, after its Wales & the South-West team completed their highest value deal to date, with a loan worth almost £12 million.

The team, based in Bristol, with a sister office in Cardiff, finalised the deal incorporating 62 properties, made up of a mixture of flats and houses, for a large portfolio landlord.

The loan was confirmed at a rate of 3.70%, fixed for 10 years on an interest-only basis, and was carefully tailored specifically to meet the requirements of the client.

The deal included many complexities, from extending lease terms to ensuring that valuations were conducted within three days, and involved close liaison with solicitors, valuers and the client’s letting agents, making it a real team effort.

The client was keen to secure the commercial lender’s competitive 10-year rate and is delighted with the result, which provides them with the security of a guaranteed income.

Allowing them to continue investing in their portfolio and undertaking further property purchases, despite what is a challenging market for landlords due to interest rate volatility affecting their income potential, and changes to regulation including potential increased energy performance certificate requirements.

Allan Griffiths, regional director for the Wales & the South-West team at YBS Commercial Mortgages, said:

“We’re delighted to start the new year by completing this fantastic deal, which demonstrates the skill and dedication of our teams when it comes to collaborating with our broker partners.

Not only fulfilling the client’s requirements, but also, by doing so, supporting the vital private rental market, where this landlord is responsible for providing an extensive range of flats and houses to people wanting to rent.”

Charles Ayton, senior commercial manager at largemortgageloans.com, who brokered the transaction, said:

“The professionalism and real estate know-how of the YBS Commercial team was first class, as was their ability to see the bigger picture.

They quickly got to grips with the requirements of the deal and delivered for the client. A great result all round.”