Keystone cuts all fixed rates by 25bps

Keystone Property Finance has cut its entire range of fixed rate buy-to-let mortgages by 25 basis points, with rates now starting at 5.84%.

The reductions apply to all of the lender’s 65% and 75% LTV five-year fixed rates and to all property types, including standard, HMOs and multi-unit properties. The fixed rate range also includes 3% and 4% arrangement fee options.

Five-year fixed rates now start from 5.84% at 65% LTV and 5.94% at 75% LTV for standard cases. Rates in its specialist range start from 6.04%, expat products from 6.09%, and holiday let rates from 6.29%.

The lender continues to allow any borrower who has completed on a variable rate loan since September to move onto selected fixed rate deals using its 'switch & fix' initiative.

Elise Coole, managing director at Keystone Property Finance, said: “We are delighted to provide landlords with significant cost savings on their mortgage finance at a challenging time in the economic cycle.

“Following these reductions, landlords can now obtain finance from Keystone at sub-6% rates of interest, which we are sure will be welcomed in the current climate.

“When planning these cuts, we were mindful of the fact that we wanted to treat all of our borrowers the same, which is why the reductions apply to all products and property types.

“These rate changes put on a very competitive footing in the specialist end of the market and we will continue to look for ways to ensure that brokers and landlords have no need to look elsewhere to satisfy their financing needs.”