"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 expanded its limited company buy-to-let mortgage range.
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.”