YBS Commercial Mortgages has fallen increased brokerage process costs for Buy-to-Let (BTL).
Brokers now receive 1% of the total deal value once the completion has taken place, an increase of 0.75%.
The new reimbursement is immediately in force and applies to all new BTL applications, including those for specialized range.
The change brings the BTL offer in accordance with the commercial investment product range of the lender.
In addition, YBS Commercial has reduced the percentage of the BTL range by 0.05%, including the specialized products.
The new BTL product rates start from 4.70%, a decrease of 4.75%, for a five-year solution up to 55%loan-to-value (LTV) on loans of more than £ 750,000, with a reimbursement of 3%.
Other highlights are a five -year solution with a reduced speed of only 5.40%, a decrease of 5.45%, for loans on houses of multiple occupations (HMOs) with a maximum of six bedrooms, up to 75%LTV, with a reimbursement of 2%.
YBS Commercial Mortgages Managing Director Angela Norman says: “We are pleased to take this step, to coordinate our procuration costs across the board, acknowledge the value that brokers bring to the credit process, their hard work and dedication to each case, and the crucial interest that we place with them on our partnerships.”
“Moreover, we are very happy that we can improve the competitiveness of our Buy-to-Let range, which offers better value for landlords and investors, including those looking for a specialist product range.”