YBS Commercial Mortgages has updated its BTL product range with a new tiered pricing structure.
For deals valued over £1m, there will be no changes to price.
For investments valued at £1m or below, BTL rates have increased by 20bps to 5.50% at 65% LTV and 5.70% at 75% LTV.
The lender is reducing the rate on its five-year fixed semi-commercial product from 6.55% to 6.45%, on loans up to £20m, agreed at up to 70% LTV.
YBS confirmed there will be no changes to its new commercial investment product, launched in March.
Tom Simpson, managing director at YBS, said: “The BTL changes mean that for portfolio landlords looking to borrow larger amounts, we’re holding rates in what is currently a difficult market environment.
“For smaller loans, while needing to reflect current market conditions — which include increased mortgage funding costs — we’ve kept the rate increase to the absolute minimum to ensure we continue to provide clients with the value they expect from us as a commercial lender.”
