YBS Commercial to double workforce in 2024

The lender said that it wants to bolster its commercial mortgages teams by a further 20 per cent, which builds on an 18 per cent rise in 2022. The lender has five main teams in its commercial mortgages business, which include business development, operations and sales team.

The firm said that it was investing in digital capabilities, it wants to grow its sales, underwriting and servicing teams to “help differentiate us in the market in terms of the service we provide to our broker partners and borrowers”, a spokesperson said,

YBS Commercial said that it had seized the opportunity in the overall dip in the market activity to go on a “recruitment drive and restructure”, which allow it to “expand and better support the clients it serves, with a particular emphasis on the regions”.

This is shown by the growth of its regional teams, which includes the creation of a London hub earlier this month.

YBS Commercial said that it had grown its balance sheet by 21.5 per cent in 2024 and delivered over £500m in completions.

Around 73 per cent of funding offered went to “servicing the private rented sector”, with £368.2m of mortgage funding provided in 2023.

Tom Simpson (pictured), managing director of YBS Commercial Mortgages, said: “The last 12 months have been challenging for the industry, but we’ve taken the opportunity to improve our relationship model and the dedicated personal service we are known for, so that we’re in the best possible position to support our clients when things do, inevitably, bounce back.

“The strength of our balance sheet allows us to provide consistency – even during these times of volatility – and our continued growth is testament to the support we’ve provided over the last 12 months to our brokers and their clients.”

He continued: “Our commitment to making a real difference in local communities, via the landlords and businesses that serve them, is stronger than ever, and our recruitment drive and internal process review will ensure our teams are always available whenever and wherever brokers and their clients need them.

“All of this is further underpinned by our continued commitment to improving our products and propositions based on broker feedback, to ensure we offer the most appropriate solutions when they and their clients need them most. For example, recent changes to improve our buy-to-let stress rate offers increased flexibility to landlords, to enable them to continue providing the quality rented accommodation, which – as our lending figures have demonstrated – remains in high demand.

“We have plenty of new products and propositions coming down the line this year to help fill other gaps in the market, so it’s a case of watch this space.”