YBS Commercial lowers specialist BTL rates

On the holiday let side, its five-year fixed rate at 75% loan to value (LTV) on loans of up to £1.5m per unit has fallen from 5.9% to 5.75%.

Its five-year fixed HMO rate at 75% LTV is 5.95% and has gone down from 5.8% on loans over £500,000.

Both are subject to a 2% fee.

There are no changes for commercial investment products, with pricing starting from 6.99% on retail, office, industrial, warehousing, quality leisure facilities and other kinds of commercial property loans.

Tom Simpson (pictured), managing director at YBS Commercial Mortgages, said: “We’re pleased to be able to reduce rates on our specialist buy-to-let range. This is especially pertinent given that, in the current climate, rate rises have become the norm.

“This move demonstrates our continued commitment, as a strong, stable lending partner, to supporting brokers and their landlord clients with their specialist lending needs, passing on reductions wherever we can, and ensuring that we remain as competitive as possible.”

YBS Commercial said that it is expecting to double its workforce this year, bringing its total headcount to 105.

The company said that it wanted to grow its commercial mortgages teams by around 20%, invest in digital capabilities and grow its sales, underwriting and servicing teams.

YBS Commercial also created a London hub earlier this month, with a new regional director and team of relationship directors reassigned from existing internal teams.