YBS Commercial Mortgages has introduced a new BTL tracker product for portfolio landlords and has reduced rates across its product range.
The new tracker product — which offers loans of up to £20m at maximum 75% LTV with a 2% arrangement fee — is priced at BBR + 1.5% for three years and can be accessed on a capital-and-interest, or an interest-only basis.
Tom Simpson, managing director at YBS Commercial (pictured above), said: “Launched as a direct result of broker feedback, we’re pleased to offer this new, tracker option for landlords, alongside our fixed-rate BTL range.
“This product recognises the current, volatile environment, and uncertainty around interest rates, with borrowers carefully considering their options — in many cases, looking for something other than to fix.
“We’re bridging that gap for these borrowers, offering them better choice and flexibility, and with many predictions that the bank rate may drop for the first time in more than four years this summer, the timing couldn’t be better.”
YBS Commercial has also cut rates by up to 20 bps on selected products in its core BTL range, as well as its specialist suites for holiday lets, HMOs and semi-commercial.
Among the products who have seen rate reductions is the lender’s 65% LTV five-year fix for clients looking to borrow up to £1m, which is now priced at 4.9% with a 3% fee.
The firm’s holiday let five-year fix at maximum 75% LTV has also been lowered to 5.55% — the product also comes with a 2% fee.
Meanwhile, investors can secure a five-year fix for semi-commercial assets from a rate of 6.6% at up to 70% LTV, with a 3% fee.
