It reduces rates by up to 65bps
Keystone Property Finance has lowered rates across its entire range of products by up to 65 basis points.
The specialist buy-to-let lender made the biggest rate reductions in its expat and holiday let ranges, where rates were slashed by 65bps.
The lender’s Switch & Fix products, which allow existing Keystone variable rate borrowers to switch to a fixed rate with minimal fees, have been cut by 55bps, as well as its complex five-year fixed rates.
Product transfer deals have been reduced by 50bps, while its classic range has been cut by up to 40bps.
Did you know we reduced our rates over the weekend ⁉
— Keystone Property Finance (@KeystonePF) July 24, 2023
✔Classic range rate reduction of up to 0.40%
✔Complex range rate reduction of up to 0.65%
✔Switch & Fix range rate reduction of up to 0.50%
✔Product Transfer range rate reduction of up to 0.50%https://t.co/hiaIFO94yB pic.twitter.com/SrBm8nXf5v
“The market has been in a state of flux recently which has been challenging for lenders, intermediaries and their clients, so we are very pleased to be able to announce a range of sweeping rate reductions,” commented David Whittaker (pictured), chief executive at Keystone Property Finance.
“The downward movement in swap rates and the headline rate of inflation means we are now in position to make positive changes to our full range of products.”
Whittaker added that they worked hard to ensure the rate reductions were passed over to their brokers as soon as possible, which is why they made them available over the weekend.
“As we know, swap rates do go up and down, but we will always endeavour to swiftly pass on cheaper borrowing costs to our brokers and their clients,” he continued. “This is a core principle of our business and one that we will always endeavour to uphold.”
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