YBS Commercial Mortgages has added a product to its range to support owners of small and medium-sized businesses (SMEs). 

The new product targets those who occupy their property for business purposes, and who will repay the mortgage from the income provided by the business.

It offers rates starting from 6.69% for loans over £1 million for a five-year fix up to 75% loan-to-value (LTV) with a 2% fee. 

The lender will be offering several variable-rate options. Borrowers can also select interest-only terms for the first year of their loan.

Professional services firms such as solicitors or accountants, as well as high-street retailers and manufacturers, are examples of those businesses likely to use the product. 

To qualify, businesses should have a turnover of between £0.5 and £25 million and must be able to demonstrate a two-year trading history. 

YBS Commercial Mortgages managing director Tom Simpson says: “I’m so excited to offer this new product to help the smaller businesses – which make such a vital contribution to local economic vitality – to thrive and grow, backed by our specialist team to help them through the application process as smoothly as possible.”