YBS Commercial Mortgages unveils new tracker product for landlords

YBS Commercial Mortgages unveils new tracker product for landlords

0:04 AM, 12th April 2024, About 2 months ago

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YBS Commercial Mortgages has unveiled a new tracker product for portfolio landlords and reduced rates across its range.

The tracker offers a variable rate of 6.75% (BBR + 1.50%) for a three-year term.

It’s available on either a capital-and-interest or an interest-only basis.

The lender says it is open to considering loans up to £20 million on an LTV of up to 75%, with a 2% arrangement fee.

‘New tracker option for landlords’

The managing director of YBS, Tom Simpson, said: “Launched as a direct result of broker feedback, we’re pleased to offer this new, tracker option for landlords, alongside our fixed rate buy to let range.

“This product recognises the current, volatile environment, and uncertainty around interest rates, with borrowers carefully considering their options – in many cases, looking for something other than to fix.”

He added: “We’re bridging that gap for these borrowers, offering them better choice and flexibility, and with many predictions that the Bank Rate may drop for the first time in more than four years this summer, the timing couldn’t be better.”

Commercial lender has also reduced its rates again

In addition to the new tracker product, the commercial lender has also reduced its rates again, offering discounts of 0.20% on selected products in its core BTL range.

The cuts also include the specialist ranges for holiday lets and HMOs.

The semi-commercial range, designed specifically for part-residential, part-commercial assets, also sees the same rate reduction.

Among the highlights of the discounted range are a five-year fix at 4.90% (down from 5.10%) up to 65% LTV for buy to let clients wishing to borrow more than £1 million, which comes with a 3% fee.

There’s a five-year fix at 5.55% (down from 5.75%) up to 75% LTV, for clients purchasing a property as a holiday let, which has a 2% fee.

A five-year fix for semi-commercial assets at a rate of 6.60% (down from 6.80%), up to 70% LTV with a 3% fee.

For assistance with any type of buy to let (BTL), property or commercial finance please complete the contact form below:

Contact Brooklands Commercial Finance

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