Keystone cuts interest rates on numerous BTL products – mortgage strategy

Keystone Property Finance has cut interest rates on its buy-to-let product range by up to 20 basis points.

The biggest discounts are available on “Switch & Fix” products, which allow borrowers with a variable interest rate to switch to a fixed rate at any time without any fees. These have been reduced by up to 20 basis points, with the range now starting at 5.24%.

The specialist lender has also cut its standard two-year fixed rates by 15 basis points – with this range now starting at 3.24%.

Meanwhile, interest rates on the Special Offer, which covers HMOs and multi-family homes (for one to six residents or units), have also been reduced, with the two-year lock-in reduced by 15 basis points and now starting at 3.29% depending on LTV.

Keystone has also reintroduced the 7% processing fee option. This is available with a 70% LTV on both two and five year fixed rates.

Elise Coole, managing director of Keystone Property Finance, said: “As always, we are committed to ensuring reduced borrowing costs are passed on to borrowers as quickly as possible so we can stay ahead of the curve in adding value to the market.”

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

Coole said the reintroduction of the 7% brokerage fee was in response to broker demand for the option. “This option gives landlords the flexibility they need to manage affordability and achieve the desired leverage,” she adds.