"Given the current climate, which has seen landlords struggling to manage their costs in a higher rate environment, we hope this will be a welcome step."
- Tom Simpson, managing director of YBS Commercial Mortgages
YBS Commercial has enhanced its buy-to-let processes in a bid to support portfolio landlords – saving them both time and money.
For landlords borrowing up to £3 million on a maximum of four properties, the lender is now offering simpler, short-form valuations to estimate market value, instead of full, more complex, red book valuations.
Properties must be houses or flats to qualify, and the lender’s standard lending criteria still applies.
Tom Simpson, managing director of YBS Commercial Mortgages, said: “This change, like so many of the improvements we’ve implemented this year, comes directly following broker feedback and will save customers money - in some cases significant amounts - on valuation fees, as well as reducing the time it takes for valuation reports to be completed. This, in turn, will reduce the overall time to case completion, improving the customer experience for borrowers.
“This move demonstrates the importance we place on acting on broker feedback, and reflects our ongoing commitment to reviewing processes and procedures wherever possible, making improvements which benefit our brokers and their clients.
“Given the current climate, which has seen landlords struggling to manage their costs in a higher rate environment, we hope this will be a welcome step.”
