Keystone cuts Classic Range five-year fixes by 0.40%

Keystone Property Finance has cut all five-year fixed rates in its Classic Range by 40 basis points, now starting at 4.39 per cent.

Keystone is also increasing its procuration fee on Classic Range products from 0.5 per cent to 0.6 per cent of the loan amount.

It has also reduced a term tracker by 10bps to 4.39 per cent (LIBOR + 3.81 per cent) to 75 per cent LTV.

Keystone has also increased the maximum number of units in a multi-unit from four to six.

Minor unsecured credit will now be considered, and maximum lending exposure is now £1m.

Applicants who are not home-owners must own at least two buy-to-let properties.

Keystone has also launched its new online broker portal, Keystone Application Submission System, which will speed up case processing and allow brokers to track the stages of every deal.

Keystone managing director, David Whittaker says: “Despite the Brexit result, its business as usual at Keystone and as you can see we have been very busy.

“The reduction in rates means that we are now able to better compete on pricing, particularly with five year fixes.

“Brokers will be particularly pleased that we have been able to up the procuration fee to 0.6 per cent of the loan.”