YBS Commercial Mortgages launches tracker loan, cuts rates by up to 20bps  – Mortgage Strategy

YBS Commercial Mortgages has launched a tracker loan for portfolio landlords and cut selected rates by up to 20 basis points. 

Yorkshire Building Society’s commercial home loan arm says its new tracker deal is available at a variable rate of 6.75% (Bank base rate plus 1.50%) for three years, and can be accessed on a capital-and-interest, or an interest-only basis.  

The lender will consider loans of up to a maximum of £20m on a loan-to-value of up to 75%, with a 2% arrangement fee. 

YBS Commercial Mortgages managing director Tom Simpson says: “This product recognises the current, volatile environment, and uncertainty around interest rates, with borrowers carefully considering their options – in many cases, looking for something other than to fix.  

“We’re bridging that gap for these borrowers, offering them better choice and flexibility, and with many predictions that the Bank rate may drop for the first time in more than four years this summer, the timing couldn’t be better.” 

The lender has also cut rates by as much as 20bps on selected products in its core buy-to-let range, as well as the specialist ranges for holiday lets and houses in multiple occupancy.  

Its semi-commercial range, designed specifically for part-residential, part-commercial assets also has the same rate reduction. 

Highlights of these cuts include: 

• A five-year fix at 4.90% (from 5.10%), up to 65% LTV for BTL clients wishing to borrow more than £1m, which comes with a 3% fee 
• A five-year fix at 5.55% (from 5.75%) up to 75% LTV, for clients purchasing a property as a holiday let, which has a 2% fee 
• And a five-year fix for semi-commercial assets – investors can now benefit from a rate of 6.60% (from 6.80%), up to 70% LTV with a 3% fee 

Simpson adds: “Reducing rates across our fixed rate BTL and semi-commercial ranges reflects our ongoing commitment to maintaining the competitiveness of our range and offering better value wherever possible to landlords and investors alike.”