"Our recruitment drive and internal process review will ensure our teams are always available whenever and wherever brokers and their clients need them."
- Tom Simpson, managing director of YBS Commercial Mortgages
YBS Commercial Mortgages expects to double its workforce this year compared to 2022, bolstering its teams by a further 20%, which builds on an 18% increase in numbers during 2023, taking the total workforce to 105.
The commercial lender says it has taken the opportunity presented by a dip in market activity to undertake a recruitment drive and restructure, with a particular regional emphasis. This has centred on expanding its regional teams - the most recent example being the creation of a new London hub.
Other steps have included establishing a dedicated team to support the growth and development of its commercial investment business, and restructuring the sales team in 2023 to ensure clients receive hands-on support from the person with the most appropriate mix of knowledge and experience – backed by streamlined internal processes - to ensure their deals go through as swiftly and efficiently as possible.
The lender has also revealed that it was able to grow its balance sheet by 21.5% in 2023, by delivering over £0.5bn in completions in 2023. Just over 73% of the funding provided went into servicing the private rental sector, with £368.2 million of mortgage funding during 2023, demonstrating the strength of demand for private rented housing.
Tom Simpson, managing director of YBS Commercial Mortgages, said: “The last 12 months have been challenging for the industry, but we’ve taken the opportunity to improve our relationship model and the dedicated personal service we are known for, so that we’re in the best possible position to support our clients when things do, inevitably, bounce back.
“The strength of our balance sheet allows us to provide consistency - even during these times of volatility - and our continued growth is testament to the support we’ve provided over the last 12 months to our brokers and their clients.
“Our commitment to making a real difference in local communities, via the landlords and businesses that serve them, is stronger than ever, and our recruitment drive and internal process review will ensure our teams are always available whenever and wherever brokers and their clients need them.
“All of this is further underpinned by our continued commitment to improving our products and propositions based on broker feedback, to ensure we offer the most appropriate solutions when they and their clients need them most. For example, recent changes to improve our buy-to-let stress rate offers increased flexibility to landlords, to enable them to continue providing the quality rented accommodation, which - as our lending figures have demonstrated – remains in high demand.
“We have plenty of new products and propositions coming down the line this year to help fill other gaps in the market, so it’s a case of watch this space.”
