YBS Commercial Mortgages has reduced rates on commercial real estate products by up to 0.2%.
The SME product, for borrowers who occupy a property for business purposes, has been lowered by 0.2%. Meanwhile, five-year fixed semi-commercial rates have been reduced by 0.15%, as has pricing on its commercial investment range for borrowing against retail offices, industrial, and other kinds of commercial property.
This includes the five-year fixed semi-commercial deal up to 60% loan to value (LTV) with a 2% fee, which has been changed from 6.55% to 6.4%. For the five-year fixed commercial investment product up to 75% LTV, with a 2% fee and for loans over £1m, the rate has been reduced from 6.99% to 6.84%.
For the five-year fixed SME product up to 75% LTV with a 2% fee and for borrowing under £1m, the rate has been cut from 7.25% to 7.05%.
Additionally, for borrowers seeking finance on small to medium-sized, good-quality warehouse, light manufacturing and industrial units, there is a 0.25% discount. Applicants will need to meet specified criteria to receive the discount.
This includes a property that has been built within the last 20 years, is located in established industrial or commercial areas and has an Energy Performance Certificate (EPC) rating of A to C.
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Angela Norman, interim managing director of YBS Commercial Mortgages, said: “We’re absolutely thrilled to reduce rates on our commercial real estate products, following the recent drop in swap rates.
“These changes reflect our desire to pass on value wherever we can to brokers and their clients, maintaining our commitment to the commercial market.”
She added: “Including a discount on industrial units [that] meet specific criteria allows us to incentivise commercial landlords who offer higher-quality properties, providing them with better product choice and value, although we encourage applications from those who might not qualify, but can benefit from our standard product option.”
