Finance

YBS Commercial further supports retail sector with newly reduced rates

Property Reporter
|
13th April 2021
Mortgage advice 589

YBS Commercial Mortgages has announced that it has reduced the rate on its semi-commercial five-year fixed-rate mortgage following feedback, to 4.35% from 4.70%.

The lender launched its first semi-commercial product in January this year, designed specifically for semi-commercial assets.

Available for loans between £500,000 and £5 million, up to 70% LTV and with five years of interest-only repayments, before reverting to capital and interest for the remainder of the term, with loan terms of between five and 25 years.

Mike Davies, head of business development at YBS Commercial Mortgages, said: “We’re really pleased to be able to respond to feedback and offer a reduced rate, to make this product more competitive for our brokers and their clients.

“Retail businesses have been impacted by the lockdown, but essential retail has been in demand, so supporting semi-commercial means we’re supporting key sectors of the economy.

“We have been committed to continue lending since lockdown began, and semi-commercial lending is another way for us to do this. We’re always looking at ways we can provide long-term stable support for our borrowers, and we’ll continue to do so both now and in the future.”

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