Keystone simplifies Classic range and slashes rates


Keystone Buy to Let Mortgages has simplified its Classic range and has cut rates by up to 50 basis points.

All rates will now be made available to both individual and limited company borrowers, where previously there were product sets for each.

Keystone managing director David Whittaker says: “Although our general strategy is to offer products that are criteria rather than price-led, we do acknowledge that landlords face higher costs going forward.

“In collaboration with our funding partner, Paratus AMC, we have worked out a way of absorbing the additional costs associated with underwriting limited company applications so we can offer the same rates to all borrowers for the time being.”

Keystone accepts trading limited companies as well as special purpose vehicles.

Some of Keystone’s Classic range rates have also been reduced by 20-50 basis points.

The lender’s previous Classic 75 per cent LTV three-year fix at 4.79 per cent is now 4.29 per cent.

Keystone’s Classic five-year rate of 4.99 per cent at 75 per cent LTV is now 4.79 per cent.

Limited companies would previously have paid another 20 basis points on top of both three- and five-year fixes.

Whittaker says: “The standout difference for Keystone from every other buy-to-let lender, and I can say it with absolute confidence, is that Keystone is the only buy-to-let lender that will do trading limited companies.”

He adds: “We expect these rates to be very popular with landlords who have more complex borrowing needs and I would urge brokers to submit purchase cases as soon as possible.

“We will do our very best to get as many of these applications processed before the stamp duty surcharge kicks in on 1 April.”