YBS Commercial Mortgages has cut its BTL rates while increasing the procuration fee for brokers.
Rates have been cut across the lender’s BTL range by 5bps, including on specialist products.
BTL rates now start from 4.7% for a five-year fixed-rate product up to 55% LTV on loans over £750,000, with a 3% fee.
Elsewhere, loans on HMOs comprising up to six bedrooms, up to 75% LTV with a 2% fee, can now be accessed from 5.4%.
Effective immediately, and applicable to all new BTL applications — including those for the specialist range (HMOs and holiday lets).
Brokers will now receive 1% of the total deal value once completion has taken place, increased from 0.75%.
This applies to all new BTL applications, including those for the specialist range such as HMOs and holiday lets.
These changes all take place with immediate effect.
“We’re thrilled to take this step, aligning our procuration fees across the board, recognising the value that brokers bring to the lending process, their hard work and dedication to each and every case, and the critical importance we place on our partnerships with them,” said Angela Norman, managing director at YBS Commercial Mortgages.
“Each of these changes is part of our ongoing commitment to identifying and making improvements which benefit both our brokers and customers wherever we possibly can.”
