The Fast Track range offers lower rates and a faster process, with fewer documents required. YBS Commercial Mortgages will enable this for lower-risk, straightforward BTL cases for experienced portfolio landlords.
The service is available for standard properties with an Energy Performance Certificate (EPC) rating of A to C and a unit size of more than 35 square metres.
The Fast Track offer will be available as long as supporting documents are provided within 10 working days of application, and the lender will give an offer within five working days. The timeline of the offer is subject to valuation.
YBS Commercial Mortgages will also give borrowers the option to use title insurance for faster completion, as long as it meets criteria.
If a deal falls outside of the Fast Track criteria but meets the lender’s normal criteria, YBS Commercial Mortgages will offer an alternative product from its standard BTL range.
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The Fast Track offering will be available for interest-only loans between £500,000 and £3m for purchase or refinance purposes. It is available on a five-year fixed rate up to 65% loan to value (LTV) priced at 4.4% with a 2% fee, or up to 75% LTV at 4.6% with a 2% fee.
Angela Norman, managing director at YBS Commercial Mortgages, said: “We’re really pleased to demonstrate our continued support for portfolio landlords with this new range.
“The new service level agreement tailored specifically for this new product means we can provide clarity and certainty even earlier in the application process for those with more straightforward cases.
“This move also demonstrates our ongoing commitment to making improvements [that] enhance the customer journey wherever possible, acting on feedback from our valued brokers.”
