YBS Commercial has simplified the valuation process with the aim of cutting costs and saving time for its portfolio landlord clients.

For landlords borrowing up to £3m on a maximum of four properties, the lender will use an estimated market value rather than requiring a full valuation.

The lender’s standard criteria still applies.

YBS Commercial Mortgages managing director Tom Simpson says: “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.”