YBS launches semi-commercial fixed rate deal
YBS Commercial Mortgages has launched a semi-commercial product.
The offering is a 70% loan-to-value (LTV) 5-year fix at 4.7%, with loans available between £400,000 and £5m.
The product offers customers five years of interest-only repayments, before reverting to capital and interest for the remainder of the term, up to a total of 25 years.
Mike Davies, head of business development at YBS Commercial Mortgages, said: “We’re really pleased to be adding this new semi-commercial product to our range and know there is a growing demand for mortgages of this nature from property investors.
“We’ve worked with brokers to design the product and are confident it will be well received by them and their clients.
“We know investors are looking for interest-only options to aid cash-flow positions and by providing this on a fixed-rate basis we’re helping them have some certainty over the cost of the finance during the first five years – something we feel will be welcomed during such uncertain times.
“This product designed specifically for semi-commercial assets, gives us an opportunity to support experienced commercial investors with viable propositions that benefit from diversified income streams.
“While as an industry we continue to weather the challenges the pandemic presents, as a lender we’re always looking at ways we can expand our offering to continue to provide long-term stable support for our borrowers.”