YBS Commercial Mortgages has announced a decrease in its specialist buy-to-let mortgage rates, marking the second time this month that the lender has made such a change. The recent adjustments have seen a reduction of up to 0.15%, specifically targeting the holiday let and HMO (Houses in Multiple Occupation) products, a strategic decision that underscores YBS’s commitment to supporting landlords amidst a tough economic landscape where rising rates have become increasingly common.
A Closer Look at the New Rates
For landlords eyeing the lucrative holiday let market, YBS is now offering a more attractive financial proposition. Prospective investors can lock in a five-year fixed rate of 5.75% for loans reaching up to £1.5 million per unit, catering to a maximum of 75% loan-to-value (LTV) ratio, accompanied by a 2% fee. This adjustment presents a golden opportunity for those looking to dive into or expand within the holiday letting scene, offering a bit of financial reprieve in securing the necessary capital.
Similarly, for those involved with HMOs, the lending landscape just got a bit more appealing. YBS has adjusted its five-year fixed rate for HMO mortgages to 5.80% for loans exceeding £500,000, also up to a 75% LTV, which, like its holiday let counterpart, comes with a 2% fee. This move is indicative of YBS’s understanding of the complexities and opportunities within the HMO market and its commitment to facilitating growth in this sector.
Business as Usual for Commercial Investments
It’s worth noting that there have been no changes to YBS’s commercial investment products. These remain at a starting point of 6.99% for loans covering a diverse range of commercial properties including retail, office spaces, industrial sites, and warehouses, among others. This stability in the commercial sector suggests a balanced approach by YBS in navigating the lending environment, ensuring they remain a competitive and supportive partner across various real estate ventures.
YBS’s Commitment to Support
Tom Simpson, the Managing Director at YBS Commercial Mortgages, expressed satisfaction over the rate reductions, “We’re pleased to be able to reduce rates on our specialist buy-to-let range. This is especially pertinent given that in the current climate, rate rises have become the norm. This move demonstrates our continued commitment, as a strong, stable lending partner, to supporting brokers and their landlord clients with their specialist lending needs, passing on reductions wherever we can, and ensuring that we remain as competitive as possible.”