Yorkshire Building Society has cut rates on its BTL range by 10bps, including the firm’s specialist products.
With immediate effect, landlords borrowing under £1m can do so on a five-year fixed-rate at 5.30%. For sums over this amount, and on the same five-year fixed-rate, rates have been cut to 5.15%.
Both are available up to 65% LTV and carry a 2% fee.
The same cuts have also been applied to the building society’s HMO and holiday let products.
Landlords seeking a mortgage for a holiday let can access a five-year fixed-rate product from 5.60% on loans up to £1.5m. This mortgage carries a 2% fee, and is accessible up to 75% LTV.
For HMOs, landlords can access the firm’s five-year fixed-rate mortgage from 5.65% on loans up to £500,000. This also carries a 2% fee, and is accessible up to 65% LTV.
No changes have been made to the lender’s commercial real estate products.
“Despite recent increases in swap rates, we’re pleased to improve the competitiveness of our BTL range, offering better value for landlords and investors,” said Angela Norman, interim managing director at YBS Commercial Mortgages.
“Reducing rates right across our BTL range demonstrates our continued commitment, as a strong, stable lending partner, to supporting brokers and their landlord clients, including with their specialist lending needs.”
