YBS Commercial, a prominent financial institution, made a strategic decision in 2021 to withdraw from lending in certain investment sectors amidst the challenges posed by the COVID-19 pandemic. This move was driven by a combination of factors, including pandemic-related economic uncertainties and the need to reassess risk profiles.
The institution recognised the importance of safeguarding its assets and maintaining financial stability during such unprecedented times. By scaling back lending in specific investment sectors, YBS Commercial aimed to reduce exposure to potentially volatile markets and maintain a more resilient financial position for both its clients and the institution.
This decision demonstrated the institution’s commitment to adapt to the evolving economic landscape and prioritise the long-term financial well-being of its lending focus.
Here’s what they have to say…
We’re expanding into the leisure sector.
Like many lenders, we were forced to withdraw from specific investment sectors at the start of the pandemic. As the economy recovers and confidence grows, we’re delighted to announce our return to lending in the leisure sector this week. This means we’ll be able to help your clients invest in restaurants, bars, gyms, and other commercial properties through our commercial investment products.
The criteria for these products will be a 65% loan-to-value, up to £3 million per property. All other criteria apply to our existing commercial investment product range.
We’ve also reintroduced support for travel agencies as demand for holidays abroad is beginning to strengthen. The same exclusions apply to specialist properties such as cinemas, theatres, 10-pin bowling and ice-skating rinks. Still, please get in touch with your Relationship Director to discuss any deals you believe meet the criteria. They may just be able to help.
Tom Simpson, managing director at YBS Commercial Mortgages, says: “By making this change, we’re illustrating our support for the economy as we start on the road to normality and emerge from the pandemic. We’re committed to the commercial finance market and servicing clients and sectors needing our help.”
”Enabling lending in the leisure industry is one of the ways we can support this, and I am looking forward to seeing how many businesses we can help in the run-up to the festive period and into the New Year.”
Holiday season
There’s no getting away from it. Christmas is just around the corner, and the industry is normally looking forward to a well-earned rest. YBS Commercial will be closed on Christmas Eve, Christmas Day, Boxing Day, and New Year’s Day. All other days are open, but many of their key account managers will be taking leave over the Christmas period. They will be keeping in touch to support any ongoing applications.
For their website, click here.
Products
Fixed Rate Buy to Let rates still available
- 3.20% – 5 year fixed rate for LTV up to 65%
- 3.35% – 5 year fixed rate for LTV up to 75%
- 3.70% – 10 year fixed rate for LTV up to 75%
Contact your Relationship Director for more information.
Find out more here.
Commercial Lending Highlights
- HMO rates now 3.8% 5 year fixed
- 65% LTV on MV, 75% on VP
- Minimum loan size £500,000
- Maximum beds 12
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Thank you for reading our publication “YBS Commercial | Withdrawal In Some Investment Sectors.” Stay “Connect“-ed for more updates soon!