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

YBS Commercial Launches 3-Year Tracker for Multi-Unit Freehold Blocks

YBS Commercial Mortgages has introduced a new three-year tracker mortgage product for multi-unit freehold blocks (MUFBs). The product is available for MUFBs with seven or more units and offers a variable rate of 4.99% (1.24% plus the Bank Base Rate, currently 3.75%).

A multi-unit freehold block (MUFB) is defined as a building containing two or more separate residential or commercial units, such as flats, apartments, or shops, all held under a single freehold title. The new tracker can be accessed on either a capital-and-interest or interest-only basis, with mortgages available up to 75% loan-to-value (LTV). The arrangement fee for the product is 2%.

YBS Commercial Mortgages states that this new tracker option is designed to provide landlords with more flexibility in the current market environment. The product is intended to complement the lender’s existing fixed-rate offerings for MUFBs.

This development may be of interest to UK letting agents and inventory clerks working with landlords who own or manage larger multi-unit properties, as it expands the range of mortgage options available for such investments.