"We are now launching a product to support investors who are seeking a mortgage to specifically fund investment into new build flats."
Its new product supports new build flat investment and will benefit small, high quality schemes where the property is typically no more than four stories high with a maximum of 16 units. Schemes can include both newly built and converted flats being released for rental.
YBS Commercial Mortgages lends to both experienced and first-time landlords for single asset and portfolio transactions. The extended offering will give landlords access to loans up to 65% LTV against newly built or converted flats from an award winning lender; as a term exit from their own development project or when acquiring new units from a third party. The new offering will attract the same pricing as the Society’s existing limited company buy-to-let products.
Luke Douse, business development director at YBS Commercial Mortgages, said: “Our existing limited company product range enables buy-to-let investors to work with a lender willing to make a long-term commitment. We are now launching a product to support investors who are seeking a mortgage to specifically fund investment into new build flats.
“YBS Commercial Mortgages has £300 million to lend to the UK property sector in 2020 and this new limited company product will help investors take advantage of this by offering a tailored solution to a specific need. This is the first of a range of niche products that we are currently working on.”
