For all new BTL applications, the specialist range, which covers houses of multiple occupancy (HMOs) and holiday lets, will receive 1% of the total deal value once completion has taken place. This is up from 0.75% previously.
The firm said the proc fee change brought it in line with its commercial investment range and shows the “team’s ongoing commitment to enhancing their proposition, reinforcing their dedication to strong partnerships and supporting borrowers”.
YBS Commercial’s BTL range will start from 4.7% for a five-year fixed rate up to 55% loan to value (LTV) on loans over £250,000 with a 3% fee.
Its five-year fixed rate for HMOs of up to six bedrooms at 75% LTV with a 3% fee will fall from 5.45% to 5.4%.
Angela Norman, managing director of YBS Commercial Mortgages, said: “We’re thrilled to take this step, aligning our procuration fees across the board, recognising the value that brokers bring to the lending process, their hard work and dedication to each and every case, and the critical importance we place on our partnerships with them.
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“In addition, we’re really pleased to be able to improve the competitiveness of our buy-to-let range, offering better value for landlords and investors, including those looking for a specialist product offering.
“Each of these changes is part of our ongoing commitment to identifying and making improvements [that] benefit both our brokers and customers wherever we possibly can.”
The latest BTL change comes after the firm expanded its HMO mortgage range and increased its maximum LTV.
