YBS Commercial Mortgages has added a product range to support owners of small and medium-sized businesses (SME).
The product from YBS Commercial is aimed at those who occupy their property for business purposes and who will repay the mortgage from the income from the SME business.
Rates start from 6.69% for loans over £1m for a five-year fixed rate up to 75% loan to value (LTV) with a 2% fee.
The lender is also offering a number of variable rate options for this SME product, along with interest-only terms for the first year of their loan.
Businesses that could benefit from the offering include professional services firms like solicitors or accountants, as well as high street retailers and manufacturers.
SME businesses need to have a turnover of between £500,000 and £25m and must show a two-year trading history.
YBS Commercial is also putting in place a small, dedicated team of relationship directors who are experts in the SME market and can help clients through the process, get to know their business and understand their ambitions and goals.
SME business owners can also access ongoing support from a dedicated team of portfolio managers after completion.
Tom Simpson (pictured), managing director for YBS Commercial Mortgages, said: “I’m so excited to offer this new product to help the smaller businesses – which make such a vital contribution to local economic vitality – to thrive and grow, backed by our specialist team to help them through the application process as smoothly as possible.
“As with so many of our changes, this product comes as a direct result of broker feedback. It demonstrates our commitment – as part of Yorkshire Building Society, which, as a mutual, is committed to supporting the vitality of its communities – to offering purposeful lending solutions [that] really make a difference to brokers and their clients.
“We hope this product, supported by a highly personalised service, will represent a really exciting alternative funding option, allowing smaller businesses to diversify their funding sources, as well as separating their properties from their working capital.”
Anna is currently the deputy editor for Mortgage Solutions and editor for Specialist Lending Solutions. She has worked as a journalist since 2019, having secured her Gold Standard NCTJ diploma from News Associates in a fast-track six-month course.
She started her career as a report at specialist publication The Insurance Insider covering a wide range of areas before joining Mortgage Solutions and Specialist Lending Solutions in 2021.
In her role, she helps put together and structure the news agenda for the day and writes up press releases, reports, interviews, analyses and exclusives across both titles. She also commissions blogs for Specialist Lending Solutions and hosts online masterclasses and in-person events across the business.
She has been shortlisted for three journalism awards, which include BIBA Journalist and Media Awards Scoop of Year Award in 2020, Headline Money Mortgage Journalist of the Year Award (B2B) in 2022 and 2023.
Prior to being a journalist, Anna worked in ecommerce across Snow + Rock, Cycle Surgery and Runners Need websites, and before that worked at specialist financial PR firm Rostrum.
In her spare time, Anna enjoys reading, seeing live music, and cooking for friends and family. When she gets a chance, she also enjoys hiking, skiing and indoor rock climbing.
