YBS Commercial Mortgages has launched a fast track BTL range with a five-day turnaround potentially available.
This range has been designed to provide a quicker offering, requiring fewer documentation for more straightforward and lower risk BTL cases. This applies to properties of standard construction with an EPC rating of A-C and unit size of over 35sqm.
Should a deal fall outside the specified fast track parameters, but meet normal lending criteria, the YBS will offer the borrower an alternative product from its standard BTL range.
Providing that all supporting documents are provided within 10 working days of application, the commercial lender has committed to providing an offer (subject-to-valuation) within five working days. YBS Commercial is also offering the option for borrowers to use Title Insurance (subject to meeting the criteria) for a faster completion time.
The fast track offering is available for interest-only loans of between £500,000 and £3m, for property purchase or refinance, and eligible products are a five-year fix up to 65% LTV at a rate of 4.40% with a 2% fee, or a five-year fix up to 75% LTV at 4.60% with a 2% fee.
“We’re really pleased to demonstrate our continued support for portfolio landlords with this new range,” said Angela Norman, managing director at YBS Commercial Mortgages (pictured above).
“The new service level agreement tailored specifically for this new product means we can provide clarity and certainty even earlier in the application process for those with more straightforward cases.”
