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 Mortgages Cuts Rates on Buy-to-Let and Commercial Products
YBS Commercial Mortgages has announced rate reductions of up to 0.2% across several of its mortgage products. The changes affect fast-track buy-to-let (BTL), multi-unit freehold block (MUFB), owner-occupied, commercial investment, and semi-commercial offerings.
The lender has reduced rates by 0.15% on its fast-track BTL range. For its specialist range aimed at large MUFBs, rates have been cut by up to 0.20%. Additionally, a 0.15% reduction applies to owner-occupied, commercial investment, and semi-commercial products designed for part-residential, part-commercial assets.
For investors seeking a semi-commercial product, the five-year fixed rate has been lowered from 5.95% to 5.8%, available up to 65% loan-to-value (LTV) with a 2% fee. For commercial investment mortgages, which cover loans on retail, office, industrial, warehousing, quality leisure facilities, and other commercial property types, a five-year fixed rate is now available at 6.89%, down from 7.04%, up to 75% LTV with a 2% fee.
Landlords with low-risk BTL cases who qualify for the fast-track category can now access a five-year fixed rate of 5%, reduced from 5.15%, up to 65% LTV with a 2% fee.
These changes may be relevant to letting agents and inventory clerks working with landlords and property investors seeking more competitive mortgage options for buy-to-let, multi-unit, and mixed-use properties.
Source: Mortgage Solutions