Keystone to accept FTBs and trading Ltd companies


Keystone Buy to Let Mortgages has widened its Classic Range lending criteria to include first-time landlords and trading limited companies.

The lender says it made the changes after calls from brokers and investors to make the tweaks.

Keystone managing director David Whittaker says: “We hope that the introduction of lending to trading companies will help keep costs down for those affected by the Government’s proposed tax relief restrictions.”

Many lenders deal with special purpose vehicle limited companies, corporate structures which are designed to hold property but do nothing else, but few will cater to trading limited firms due to the tougher underwriting needed.

A Keystone statement released today urged brokers to file any Classic Range applications before 1 April to avoid higher stamp duty.