YBS Commercial Mortgages updates lending criteria



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YBS Commercial Mortgages has updated its lending policy to give its underwriters more flexibility when assessing commercial investments.

The lender will now consider two years’ understanding of commercial investments, as an amendment to its standard policy of a minimum of two years’ experience of managing commercial property.

To improve its support to the commercial sector, the company is also giving its underwriters discretion where it makes sense to do so and based on supplied evidence from brokers and borrowers to progress applications that don’t always have two years’ experience, with application set to be considered on a case-by-case basis.

Mike Davies, head of business development at YBS Commercial Mortgages (pictured above), said: “While it remains absolutely critical that we only lend to borrowers with the right experience, knowledge and skills, we recognise that different types of commercial property assets require different levels of management experience; there is no one-size fits all.

“This change gives our underwriters the discretion to progress good quality applications where it makes sense to responsibly do so. 

“For example, a property, such as a convenience store with a long lease, may require no hands-on management, but a multi-let office block with short leases will be much more management heavy — it’s important that we acknowledge this. 

“By considering a balance of experience, knowledge and skills — underpinned by our responsible lending principles — we’re building on our promise to be a long-term, stable lending partner that provides a personal and dedicated service to our customers.”

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