YBS COMMERCIAL SUPPORTS ECONOMIC GROWTH AND REGENERATION WITH A COMPETITIVE NEW PRODUCT FOR RETAIL, OFFICE AND INDUSTRIAL PROPERTY
16 Mar 2023
YBS Commercial Mortgages has today (Monday, 13 March 2023) introduced a new product for investors in commercial and industrial property.
The five-year fixed rate deal is available for loans on retail, office, industrial, warehousing, quality leisure facilities and other kinds of commercial property, and can be accessed on a capital-and-interest, and interest-only basis.
The lender will consider loans of up to £3 million at a competitive rate of 6.99%, up to 75% LTV (capital and interest repayment), or 7.15% to 65% LTV (interest only).
Both product options have a 2% arrangement fee, of which 1% is paid to the broker as a procuration fee.
Tom Simpson, managing director of YBS Commercial Mortgages, explained that the addition of this new product is to enhance the lender’s support for property investors with good quality properties, who can potentially provide a shot in the arm for economic vibrancy across UK regions.
“We’re doing our bit to fill the substantial gap in commercial funding availability for small businesses,” he said. “Which is why we’re really pleased to add this product to our range.”
Tom continued: “This new offering comes as a direct result of broker feedback, with a recognition that, post pandemic, there is a real opportunity to acquire commercial property at a good price, but that investors’ efforts are being hampered by low funding availability and extra-stringent criteria for what is available, as well as long delays in finalising funding, which are leading to opportunities being lost. This, in turn, is hampering economic growth which is much-needed by communities and the UK at large, at the moment.
“Our personalised approach to underwriting, coupled with the substantial funding amounts we are able to offer for properties of the right quality, means we can offer a really exciting alternative, providing additional certainty for borrowers with this new fixed rate deal.
“And of course, our commitment remains to providing long-term stable support and award-winning personal service to all our borrowers.”
Brokers can make enquiries by emailing
CommercialLending@ybs.co.uk or by speaking with their local relationship director contacts at www.ybs.co.uk/commercial/meet-the-team