YBS commercial returns to pre-lockdown lending for buy-to-lets
The maximum loan-to-value (LTV) now available for limited company buy-to-let facilities is 75% and is applicable to all existing customers who have been with the society for three years or more and borrowing up to £20 million.
It has also announced new customers will be able to access the increased 75% LTV for borrowing up to £5 million.
Meanwhile, borrowers taking out mortgage at 65% LTV will benefit from a maximum loan increase from £5 million to £15 million.
Tom Simpson, managing director at YBS Commercial Mortgages, said: “At a time when the economy is under pressure, we’re committed to supporting our existing and new customers and changing our lending criteria back to pre-lockdown levels to show that we are taking confident action.
“Our plans to expand the business are still on track, we have remained open for business during these challenging times and our commitment to be a stable, long-term lending partner for borrowers has not faltered.”
The mutual lender has been developing its range of limited company buy-to-let products in 2020, and launched five and 10-year fixed deals earlier in the year.
Simpson added: “We have more changes planned for our limited company buy-to-let products throughout the year to suit the needs of sector-specific borrowers.
“We operate a personal service model that allows us to tailor loans to suit the individual needs of our borrowers and I am looking forward to seeing these products support our customers when they launch later this year.”