YBS Commercial has updated its BTL process in a bid to further support portfolio landlords.
For landlords borrowing up to £3m on a maximum of four properties, the commercial lender is now offering simpler short-form valuations to estimate market value, instead of full Red Book valuations.
The offer only applies for landlords with houses or flats — the lender’s standard lending criteria still applies.
Tom Simpson, managing director at YBS Commercial Mortgages (pictured above), said: “This change, like so many of the improvements we’ve implemented this year, comes directly following broker feedback and will save customers money on valuation fees, as well as reducing the time it takes for valuation reports to be completed.
“This, in turn, will reduce the overall time to case completion, improving the customer experience for borrowers.
“This move demonstrates the importance we place on acting on broker feedback, and reflects our ongoing commitment to reviewing processes and procedures wherever possible, making improvements which benefit our brokers and their clients.
“Given the current climate, which has seen landlords struggling to manage their costs in a higher rate environment, we hope this will be a welcome step.”
