YBS launches new buy-to-let tracker and cuts rates by 0.20%

YBS Commercial Mortgages has introduced a new tracker product for portfolio landlords and reduced rates across its product range.

The new tracker product is available at a variable rate of 6.75% (Bank Base Rate + 1.50%) for three years, and can be accessed on a capital-and-interest, or an interest-only basis. The lender will consider loans up to a maximum of £20 million on LTVs up to 75% with a 2% arrangement fee.

The lender has also reduced rates, with discounts of 0.20% on selected products in its core buy-to-let range, as well as the specialist ranges for holiday lets and HMOs.

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

Highlights include a five-year fix at 4.90%, available up to 65% LTV for buy-to-let clients wishing to borrow more than £1 million, which comes with a 3% fee.

A five-year fix at 75% LTV has reduced to 5.55% for clients purchasing a property as a holiday let, with a 2% fee.

In addition, a five-year fix for semi-commercial assets has reduced to 6.60% up to 70% LTV with a 3% fee.

Tom Simpson, managing director of YBS Commercial Mortgages, said: “Launched as a direct result of broker feedback, we’re pleased to offer this new, tracker option for landlords, alongside our fixed rate buy-to-let range.

“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.

“Reducing rates across our fixed rate buy-to-let 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.”