YBS Commercial re-enters leisure industry market
YBS Commercial Mortgages has made changes to its lending criteria this week to resume lending in the leisure sector, as the economy continues to recover from the pandemic.
The change means that the leisure industry (such as restaurants, bars, gyms and travel agents) can now benefit from loans from the commercial lender of up to 65% loan-to-value (LTV), with a maximum property value of £3 million per property on its commercial investment product range.
Specialist properties (such as cinemas, theatres, 10 pin bowling alleys, large gyms with swimming pools and ice-skating rinks) continue to be excluded.
In a demonstration of its ambition and commitment to the sector, this year YBS Commercial Mortgages has increased the amount of funding borrowers can access on its buy-to-let range, introduced a range of products and process enhancements to improve overall service and value for clients, and doubled the number of relationship directors it employs to support borrowers and brokers.
Tom Simpson, managing director at YBS Commercial Mortgages said:
“By making this change, we’re illustrating our support for the economy, as and when we eventually come out of the pandemic.
We’re committed to the commercial finance market and to servicing the clients and sectors that need our help. Enabling lending in the leisure industry is one of the ways we can support this.”