YBS Commercial revamps mortgage product range
YBS Commercial Mortgages is kicking off the new year with changes to its product range which will benefit brokers and their clients.
The commercial lender is cutting rates on its corporate buy-to-let five-year fix and making an adjustment to its holiday lets offering, making it more accessible to borrowers.
The buy-to-let rate cut incorporates a 0.15% rate reduction, which is available to corporate buy-to-let clients who want to borrow up to 65% loan-to value (LTV).
Effective from 10 January, borrowers will benefit from a five-year fixed rate of 3.05% (was 3.20%) on loans of up to £20 million.
The change to the holiday lets offering means that landlords can now take out a product in their own name, rather than having the requirement for a limited company to be in place to benefit.
There are no changes to the 10-year fixed rate buy-to-let product, or the HMO (Housing of Multiple Occupancy) product.
Mike Davies, head of business development at YBS Commercial Mortgages, said:
“We’re really pleased to reduce the rate on our five-year fixed rate product at 65% LTV.
The change reflects our desire to support investment in the UK economy and is based on feedback from our broker panel members.
The changes to the holiday lets product will open up the market to borrowers and make it easier for those looking to take advantage of the current demand for staycations.
We’re always looking for ways to exceed expectations, and we hope this will be welcome news for brokers and their clients.”