YBS Commercial revises range with semi-commercial rate cut

Its five-year fixed semi-commercial product now has a rate of 6.45 per cent, down from 6.55 per cent, which applies to loans of up to £20m up to 70 per cent loan to value (LTV). 

Tom Simpson (pictured), managing director of YBS Commercial Mortgages, said: “We’re really pleased to be able to reduce rates on our semi-commercial product. This change will enable us to stay competitive in this space, maintaining a good product mix and supporting local business investors who rely on diversified income streams.”  

It has also made changes to its buy-to-let mortgages including the introduction of tiered pricing. For deals with a value of £1m or lower, the lender has upped rates by 0.2 per cent at 65 and 75 per cent LTV. This change means that for loans of up to £20m, the 65 per cent LTV deal has a rate of 5.5 per cent and the 75 per cent LTV has a rate of 5.7 per cent. 

No changes have been made to deals with a value of more than £1m. 

Simpson said: “The buy-to-let changes mean that for portfolio landlords looking to borrow larger amounts, we’re holding rates in what is currently a difficult market environment. This speaks to our commitment to support the sector as a strong, stable lending partner. 

“For smaller loans, while needing to reflect current market conditions – which include increased mortgage funding costs – we’ve kept the rate increase to the absolute minimum to ensure we continue to provide clients with the value they expect from us as a commercial lender.” 

These changes follow the lender’s recent announcement that it had doubled the amount loaned to commercial and professional landlords to £600m. 

Last month, the lender also launched a product for commercial and industrial property investors.