YBS Commercial Mortgage has relaxed lending rules for selected loans and launched new products.
The Yorkshire Building Association’s real estate investor division has upgraded its semi-commercial-wide loan-to-value ratio to designed specifically for part of commercial assets in part of the residential area, offering loans from up to 70% of LTV to 75% of LTV.
It also increased the maximum loan for its semi-commercial products from £5 million per loan to £5 million.
The commercial lender has also launched a new loan that offers up to 55% of LTV, with a five-year expected price of 5.50% and a 2% fee.
It also offers a five-year repair fee for 5.90% of LTVs, with a 2% fee, and for borrowers with smaller deposits, the loan costs 6.25% and 2% fee for 75% of LTVs.
As a complement to its sales volume, it has a loan price of just 4.35% for the company’s BTL customers, with a five-year fixed, up to 65% of LTV, and a fee of 5%, and lenders say the lender “allows investors the opportunity to benefit from higher fees by paying higher fees in advance.”
Angela Norman, managing director of commercial mortgages at YBS, said the moves “provided many changes in our product range, bringing new options for investors who have commercial assets that own parts homes to include new, competitive, low-LTV products, and supporting those with smaller deposits and hoping to borrow more.”
“Our new BTL product also expands the options we can offer landlords in hopes of paying more upfront and long-term benefits from lower interest rates.”
