YBS Commercial Mortgages has added a new offering to its buy-to-let (BTL) range with new ‘fast track’ product options.
The new range offers cheaper rates, a faster and more targeted process and fewer documentation requirements.
The new service applies to properties of standard construction, with an Energy Performance Certificate (EPC) of AC, and a unit size of more than 35 square meters.
Provided all supporting documents are provided within 10 working days of application, the commercial lender has committed to making an offer (subject to valuation) within five working days.
YBS Commercial also offers borrowers the option of using title insurance (provided criteria are met) for a faster turnaround time.
The new fast track offer is available for interest-only loans between £500,000 and £3 million, for the purchase or refinancing of property.
Eligible products include a five-year commitment up to 65% Loan-to-Value (LTV) at a competitive rate of 4.40% with a 2% fee, or a five-year commitment up to 75% LTV at 4.60% with a 2% fee.
Angela Norman, director of YBS Commercial Mortgages, said: “We are very pleased to be able to demonstrate our continued support for portfolio landlords with this new range.”
“The new Service Level Agreement specifically tailored to this new product means we can provide clarity and certainty even earlier in the application process for those with simpler issues.”