"The new buy-to-let product is inspired heavily by feedback from our brokers that lower rate, higher fee offerings are attractive to investors"
YBS Commercial Mortgages has announced a series of changes to its buy-to-let mortgage range.
The lender has launched a new buy-to-let product, available for corporate buy-to-let clients borrowing more than £1 million at 65% LTV, which comes with a rate of 5.25% fixed for five years and a 5% completion fee.
YBS is also cutting rates across its buy-to-let suite by 0.20%. Five-year fixed rates on loans over £1 million at 65% LTV now start from 5.75% with a 3% fee and 5.95% with a 2% fee.
In addition, a five-year fix at 75% LTV has reduced to 5.95% for loans over £1 million, with a 3% fee.
Rates on the lender's specialist buy-to-let product offerings have also been reduced. This applies to HMO and holiday let products, which have been reduced by 0.20% to 6.50% and 6.55% respectively. Both products come with a 2% fee.
Tom Simpson, managing director of YBS Commercial Mortgages, said: “The new buy-to-let product is inspired heavily by feedback from our brokers that lower rate, higher fee offerings are attractive to investors – offering them better choice, and helpful with affordability.
“We’re also really pleased to be able to reduce our rates across the buy-to-let range following a downward trend in market swap rates. These changes reflect our desire to remain as competitive as possible for all our brokers and customers in a challenging market.”
