YBS Commercial Mortgages has cut rates across a range of offers by up to 30 basis points.
Yorkshire Building Society’s commercial mortgage arm says prices for its buy-to-let range for commercial landlords borrowing under £1m are down by 30bps.
Rates for commercial landlords borrowing £1m or more have been reduced by 20bps.
It adds that prices on specialist holiday lets and housing of multiple occupancy products are also down by 20bps — taking their rates to 6.35% (from 6.55%) and 6.30% (from 6.50%), respectively.
The unit’s commercial investment five-year fix – earlier launched this year — for loans on retail, office, industrial, warehousing, quality leisure facilities and other kinds of commercial property – has also reduced by 20bps.
Its five-year fixed-rate semi-commercial product, aimed at part-residential and part-commercial assets, is down to 7.10% (from 7.30%) up to 60% loan to value, and 7.15% (from 7.35%) to 70% LTV.
Highlights of the lender’s reductions include:
- Five-year BTL fixes up to 65% LTV, at 5.90% (from 6.20%) on loans of under £1m, come with a 2% fee
- Five-year BTL fixes up to 65% LTV, at 5.05% (from 5.25%) for loans over £1m, come with a 5% fee
- Five-year fixes up to 75% LTV, suitable for loans on commercial properties, at 7.49% (from 7.69%), come with a 2% fee
YBS Commercial Mortgages managing director Tom Simpson says: “These changes reflect our commitment to keeping brokers informed about rate changes, adjusting our pricing and passing on the benefit of market fluctuations wherever possible to brokers and their clients, and ensuring that we retain our competitive edge.”
