The specialist buy-to-let lender said it is now offering two 7-year fixes as part of its standard range: a 3.39% product at 65% LTV and a 3.49% product at 75%, both of which are available on loans of between £50,000 and £1m
To support the growing demand for longer-term mortgages among landlords, Keystone Property Finance has launched a range of 7-year fixed rates.
The specialist buy-to-let lender said it is now offering two 7-year fixes as part of its standard range: a 3.39% product at 65% LTV and a 3.49% product at 75%, both of which are available on loans of between £50,000 and £1m.
Keystone is also offering two seven-year fixes as part of its specialist range for HMOs and multi-unit properties. These include a 3.69% product at 65% LTV and a 3.79% product at 75% LTV, both of which are also available on loans between £50,000 and £1m.
Read more: Number of long-term mortgages dramatically drop despite remaining popular.
Borrowers who are already Keystone customers can choose from four seven-year fixed rates as part of the lender’s product transfer offering. For standard properties, these are a 3.39% product at 65% and a 3.49% product at 75% LTV. For HMOs and multi-unit properties, these are a 3.69% product at 65% LTV and a 3.79% product at 75% LTV.
“In recent months the topic that has been coming up time and time again when we speak with brokers is that landlords are increasingly after long-term fixed rates,” Elise Coole, managing director at Keystone Property Finance, said.
“It is completely understandable that landlords would want the long-term security that a seven-year fixed rate provides given that the Bank of England has increased interest rates twice since December. It looks increasingly likely that we will see further rate increases in 2022 if inflation continues to run well above the Bank of England’s 2% target.”
