Editor's note: This brief was summarised by The Property AI Newsroom from a report by Mortgage Solutions. Read the original article for full details.

YBS Commercial and Colenko Announce Rate Reductions for Landlords and Developers

YBS Commercial has announced reductions to its five-year fixed rates for new business, targeting portfolio buy-to-let (BTL) landlords and those borrowing against houses in multiple occupation (HMOs) and multi-unit freehold blocks (MUFBs). Colenko has also lowered its lending rates for residential bridging products, as well as finance for refurbishment and ground-up developments.

YBS Commercial’s new five-year fixed rate for BTL up to 55% loan to value (LTV) with a 3% fee has been reduced from 5.05% to 4.9%. The five-year fixed rate for MUFB properties with a 2% fee up to 65% LTV has been cut from 5.8% to 5.65%. Additionally, the semi-commercial product with a 2% fee up to 65% LTV has been lowered from 6.1% to 5.95%.

Colenko’s residential bridging rates now start from 0.71% per calendar month. The lender has also reduced rates for refurbishment and ground-up development finance. These changes follow an increase in Colenko’s wholesale funding facilities from Shawbrook Bank and Renaissance Asset Finance. Colenko has recently invested in artificial intelligence-assisted underwriting and workflow automation to improve operational efficiency and decision-making speed, which it says has contributed to more competitive pricing for borrowers.

These rate changes may be of interest to UK letting agents and inventory clerks working with landlords and property investors seeking new finance options for buy-to-let portfolios, HMOs, MUFBs, and development projects.