"The buy-to-let changes mean that for portfolio landlords looking to borrow larger amounts, we’re holding rates in what is currently a difficult market environment."
The lender is reducing the rate on its five-year fixed rate semi-commercial product, designed specifically for part-residential, part-commercial assets which are rented out as investments.
Landlords can now access a rate of 6.45%, down from 6.55%, on loans of up to £20 million, up to 70% LTV.
The lender is also making changes to its buy-to-let range, introducing a new tiered pricing structure according to loan amount, with no changes for deals valued over £1 million. For those valued at £1 million or below, the lender is adding 0.20% to both the 65% and 75% LTV products, meaning new rates of 5.50% at 65% LTV, and 5.70% at 75% LTV, on loans of up to £20 million.
YBS Commercial has confirmed there will be no changes to its new commercial investment product, launched just last month, available for loans on retail, office, industrial, warehousing, quality leisure facilities and other kinds of commercial property, at a rate of 6.99% up to 75% LTV on a capital and interest repayment basis, or 7.15% to 65% LTV on an interest only basis.
Tom Simpson, managing director of YBS Commercial Mortgages, said: “We’re really pleased to be able to reduce rates on our semi-commercial product. This change will enable us to stay competitive in this space, maintaining a good product mix and supporting local business investors who rely on diversified income streams.
“The buy-to-let changes mean that for portfolio landlords looking to borrow larger amounts, we’re holding rates in what is currently a difficult market environment. This speaks to our commitment to support the sector as a strong, stable lending partner.
“For smaller loans, while needing to reflect current market conditions - which include increased mortgage funding costs - we’ve kept the rate increase to the absolute minimum to ensure we continue to provide clients with the value they expect from us as a commercial lender.”
