One launches a limited edition range, the other reduces rates on its homebuying bundle
Specialist lenders Keystone Property Finance and Gen H have both announced product updates, aimed at easing affordability for borrowers.
Keystone Property Finance has introduced a limited edition ‘Summer Special’ range with rates starting at 3.79%.
The product set includes two- and five-year fixed rates for standard and specialist properties, such as houses in multiple occupation (HMOs) and multi-unit properties. The range is designed to offer lower rates by incorporating a higher 7% arrangement fee.
For standard properties, the available products are a 3.79% two-year fix up to 70% loan-to-value (LTV), a 4.59% five-year fix up to 65% LTV, and a 4.69% five-year fix up to 75% LTV. For HMOs and multi-unit properties with one to six occupants, rates are 3.89% for a two-year fix up to 70% LTV, 4.84% for a five-year fix up to 65% LTV (available for first-time landlords), and 4.94% for a five-year fix up to 75% LTV (available for first-time landlords). There are also two five-year fixed rates for specialist HMOs and multi-unit properties with seven to 15 occupants, starting at 5.09%.
☀Our new Summer Special products are here☀
— Keystone Property Finance (@KeystonePF) July 9, 2024
Serving enhanced affordability for your landlord clients with 7% arrangement fees across standard and specialist properties🎾
Available for a limited time only.
View the range here >> https://t.co/DlkFOWDb7w#BTL #SpecialistLending pic.twitter.com/INApyuZtLp
“We are thrilled to announce the launch of our new limited edition ‘Summer Special’ product range, which has been designed to ease affordability issues for landlords at a time when swap rates remain elevated,” said Elise Coole (pictured left), managing director at Keystone Property Finance.
Meanwhile, Gen H has announced significant cuts to its homebuying bundle rates, with reductions of up to 40 basis points (bps). The rates are available to customers who take a Gen H mortgage and use Gen H Legal for conveyancing.
Gen H’s latest reprice includes a 40bps reduction in two-year homebuying bundle rates, a 30bps reduction in three-year rates, and a 20bps reduction in five-year rates.
“Gen H Legal was founded on the same ethos as Gen H – to reimagine the tools and processes that could make homebuying simple, transparent and fair for buyers in an incredibly difficult market,” said Pete Dockar (pictured right), chief commercial officer at Gen H. “While the two businesses share this founding principle, Gen H Legal is independently operated by a highly skilled and experienced team of committed solicitors and assistants, and we are delighted that we’ve been able to bring this productive, customer-focused relationship to market.”
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