YBS Commercial Mortgages has launched a buy-to-let product for corporate clients borrowing more than £1m, and cut BTL rates by 20 basis points for business landlords.    

Yorkshire Building Society’s corporate property arm says its new five-year fixed-rate loan, is available for commercial BTL clients borrowing more than £1m at 65% loan to value, at 5.25%. It adds that better rates are available to investors who pay higher upfront fees.  

Highlights of its new range include:  

• A five-year fix at 65% LTV at 5.95% (from 6.15%) on loans of over £1m, with a 2% fee  
• A five-year fix at 65% LTV at 5.75% (previously, 5.95%) for loans over £1m, with a 3% fee  
• And a five-year fix at 75% LTV at 5.95% (was 6.15%) for loans over £1m, with a 3% fee.  

The unit adds that it has cut rates across its BTL suite by 20bps, including specialist offerings such as housing of multiple occupancy and holiday let offers, which have been reduced to 6.50% and 6.55%, respectively. Both loans come with a 2% fee.  

YBS Commercial Mortgages managing director Tom Simpson says: “The new BTL product is heavily inspired by feedback from our brokers that lower rate and higher fee offerings are attractive to investors – offering them a better choice, and is helpful when it comes to affordability.”