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Keystone improves lending criteria and reduces rates

Specialist lender Keystone Property Finance has enhanced its offer to buy-to-let landlords by improving its lending criteria and making a number of rate reductions.

The intermediary only lending firm has increased the acceptable size of a multi-unit from eight flats to 10, while its maximum loan size has been doubled to £1m and landlords older than 85 years will be now be considered as part of a joint application.

Rates on its Keystone’s Solutions Range now start from 6.89% for individuals and limited companies, while early repayment charges will now only apply for the first five years of the loan, down from nine years.


David Whittaker, chief executive of Keystone said: “In Q3 2016, multi-units were typically averaging yields of 8.7% compared to just 5.6% for standard buy-to-let property, so increasing the number of separate units in a freehold block to 10 will appeal to landlords who like to take advantage of the economies of scale.

“And we know from the brokers who place cases with us that many investors are moving towards these larger properties.

“The aim of accepting landlords over the age of 85 years within a joint mortgage application will allow many of our older borrowers to continue to leverage their portfolios.”

The rate for foreign nationals has also been reduced by 60 basis points and is now 8.39% for 70% LTV. The range also offers 7.89% at 70% LTV to ex-pats, down from 8.99%.

Whittaker added: “The Solutions Range is designed for investors who are struggling to get longer term buy to let finance, so we are delighted to be able make our pricing more appealing especially as the products are available to both individual and limited company borrowers.” 

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