New 5 year fixed rates from Keystone Buy to Let Mortgages

Keystone Buy to Let Mortgages has comprehensively improved its offering with new products, rate and fee reductions, and criteria and service enhancements.

Responding to a call from investors with larger deposits, Keystone has introduced a series of five year fixed rate mortgages at 70% loan to value starting at a competitive 4.88%.

Existing five year fixed rates at 75% LTV have been reduced by 0.40%. Similarly, three year fixed rates at 75% LTV have been reduced by 0.15%.

Commenting on the new products and rate reductions, managing director, David Whittaker said: “We’ve worked hard with Aldermore Bank (which provides the funding line) to come up with a stand-out series of five year fixed rate products priced below 5%. It makes them really competitive particularly for landlords that sit outside mainstream buy to let lending criteria.

“The price reductions on the existing fixed rate products demonstrate how the gap between three and five year cost of funds has narrowed. The new five year rate is particularly good for investors who like the security of locking in for a longer period of time.”

Keystone has also reduced its lender fee by up to 0.50% on the products designed for multi-unit and HMO properties, and applications by limited companies. All fees in the Keystone range can be added to the loan amount on top of the LTV allowing investors to maximise borrowing.

From a service perspective, Keystone has increased the number of solicitors on its panel with the appointment of Russell & Russell and changed its title indemnity insurance to speed up the completion time for remortgages.

Rob Lankey, managing director of Commercial Mortgages at Aldermore said: “We are delighted to welcome Russell & Russell to the solicitor’s panel; it will certainly help with the rise in applications. Similarly the new title indemnity insurance will help Keystone provide a quicker, more efficient service to brokers by reducing the time required for searches and paperwork on remortgages.”