YBS Commercial Mortgages has added a three-year tracker mortgage to its range for multi-unit freehold blocks with seven or more units.
The product is available at a variable rate of 4.99%, comprising a margin of 1.24% over the Bank Rate, which is currently 3.75%.
It is offered on either a capital-and-interest or interest-only basis at up to 75% loan-to-value, with a 2% arrangement fee.
A multi-unit freehold block is a building containing two or more separate residential or commercial units, such as flats, apartments or shops, held under a single freehold title.
Angela Norman, managing director of YBS Commercial Mortgages, says: “Developed in direct response to broker and customer feedback, we’re delighted to introduce a new tracker option for landlords with MUFBs, to complement our existing fixed-rate offering.
“This product reflects the realities of today’s market, where economic uncertainty and fluctuating interest rate expectations are influencing borrower decisions, with landlords seeking the option of greater flexibility rather than committing to a fixed rate for an extended period.
“By introducing this tracker product we’re providing landlords with more choice, and the ability to better respond to changing market conditions, as well as strengthening our competitive position in this space, reinforcing our commitment to delivering solutions that meet their evolving needs.”
