Keystone lowers interest rates on many BTL products – Mortgage Strategy

Keystone Property Finance has reduced rates on its buy-to-let product ranges by up to 20 basis points.

The biggest discounts apply to the ‘Switch & Fix’ products, which allow borrowers with a variable interest rate to switch to a fixed interest rate at any time free of charge. These have been reduced by a maximum of 20 basis points, with the bandwidth now starting at 5.24%.

The specialist lender has also reduced its two-year benchmark interest rate by 15 basis points – with this range now starting at 3.24%.

Meanwhile, rates for the specialist range, which covers healthcare homes and multi-unit homes (for one to six residents or units), have also been reduced, with the two-year rate reduced by 15 basis points and now starting at 3.29%, depending the LTV.

Keystone has also reintroduced the 7% arrangement fee option. This is available at an LTV of 70% over both two and five year fixed rates.

Elise Coole, Managing Director of Keystone Property Finance, said: “As always, we want to ensure that the lower financing costs are passed on to borrowers as quickly as possible, so we stay one step ahead in delivering value to the market.

“This means we can offer more competitive options to agents and their landlords.”

Coole says the reintroduction of the 7% transaction fee was in response to brokers’ demand for this option. “This option gives landlords the flexibility they need to manage affordability and achieve the impact they are looking for,” she adds.