Commercial lender YBS Commercial Mortgages will remove product tiers across its ranges, effective immediately.
Consequently, the firm’s buy-to-let (BTL), business owner-occupier and commercial investment ranges will no longer be subject to product tiers.
The change will give investors and landlords the ability to choose from the same rates, regardless of their borrowing needs, and simplify the product offering, according to YBS Commercial Mortgages.
A portfolio landlord wanting to borrow from £500,000 to £20m can now select a five-year fixed rate at 4.1% up to 65% loan to value (LTV) with a 5% fee. This product was previously applicable to borrowers with loan amounts of at least £750,000.
Angela Norman (pictured), managing director of YBS Commercial Mortgages, said: “We’re really pleased to remove tiering across our product ranges, ensuring that we can offer landlords access to the same competitive rates, no matter what their borrowing goals are.
“This also allows us to retain our position in the market, demonstrating our continued commitment to supporting investors, portfolio landlords and the commercial sector as a whole.”
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The move comes after the lender added two-year fixed rates to its BTL range last week, and it also introduced a fast-track BTL range near the end of last year.
