The products come with a higher fee in return for lower rates
Specialist buy-to-let lender Keystone Property Finance has launched a new range of lower-rate larger loan products with a 5% arrangement fee.
The five-year fixed rate products are available for loans of between £250,000 and £2 million, and come with a higher fee in return for lower rates.
Rates start from 5.29% for standard properties at 65% loan-to-value (LTV) and 5.39% at 75% LTV. For borrowers purchasing or remortgaging a specialist property, such as a house in multiple occupation or multi-unit property, rates start at 5.54% at 65% LTV, or 5.64% at 75% LTV.
Today we launched our NEW Larger Loan rates🎉
— Keystone Property Finance (@KeystonePF) February 23, 2023
Take a look at these new products for Standard, Specialist, Ex-Pat and Holiday Lets here -https://t.co/lIrSuFB351#btl #HMO #Specialistlending pic.twitter.com/qd1IMPsfEX
The larger loan product range, Keystone said, will give more flexibility to landlords seeking higher yielding properties and has been launched in direct response to feedback from brokers.
Keystone’s new larger loan products are:
- Standard properties: 5.29% five-year fix at 65% LTV, and 5.39% at 75% LTV
- Specialist properties (HMOs and MUPs): 5.54% five-year fix at 65% LTV, and 5.64% at 75% LTV
- Standard expat: 5.64% five-year fix at 65% LTV, and 5.74% at 75% LTV
- Specialist expat: 5.84% five-year at 65% LTV, and 5.94% at 75% LTV
- Holiday lets: 5.74% five-year fix at 65% LTV, and 5.84% at 75% LTV
The lender’s larger loan product guide can be viewed online through its website.
“This is the first time we have offered products with a 5% arrangement fee, and we have done so to give landlords more choice and flexibility,” Elise Coole (pictured), managing director at Keystone Property Finance, said. “We’re here to support brokers and their clients and as long as it makes business sense, we will always look at finding new and innovative ways to lend.
“Market competition is heating up, and we are keen to ensure we have a range that is both attractively priced and varied in terms of the products on offer, so we are front of mind when brokers are placing complex buy-to-let cases. Rather than waiting around, we think it’s important to move quickly to pass cost savings onto landlords as funding conditions have allowed.”
Last month, Keystone reduced the rates on the entire range of its fixed rate mortgages by 25 basis points.
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