"We’re significantly increasing the amount of money our borrowers can access, whilst ensuring we remain committed to lending responsibly"
The change affects the rates used to calculate affordability by taking a market-based approach, allowing customers to responsibly borrow more funds than they previously would have been able to.
The lender provides a range of limited company buy-to-let mortgages tailored to support experienced portfolio investors and says lending has increased by over 150% this year. As a result, it has introduced a range of new products and increased the number of relationship directors available to support borrowers and brokers by 50%.
Tom Simpson, managing director at YBS Commercial Mortgages, said: “By making this change to our affordability criteria we’re significantly increasing the amount of money our borrowers can access, whilst ensuring we remain committed to lending responsibly, which is great news.
“We are committed to providing our broker partners and borrowers with the best possible service in the commercial finance market. The progress we’ve made has created a strong platform for us going forwards, and will bring even more enhancements to our offering. 2022 will be an exciting year.”
