Keystone reduces rates for third consecutive week

Keystone Property Finance has lowered rates for a third consecutive week with products reduced by up to 20 basis points.

The changes mean that the specialist buy-to-let lender’s standard range now starts from 4.64% for a two-year fix and 5.14% for a five-year fix.

Keystone has also reduced its two-year product transfer and standard Switch & Fix fixed rates by 15 basis point and all five-year fixed rates in its specialist, Switch & Fix and expat and holiday lets product ranges by 5 basis points.

Following the cuts, Keystone’s product transfers now start from 6.09%, while its expat and holiday let ranges start from 6.19%.

The lender’s Switch & Fix range gives borrowers the flexibility of a tracker rate with the ability to move on to a fixed rate within the initial two-year period at no extra cost.

Last week Keystone reduced its standard and specialist two year fixed rates by 10 basis points and at the start of the month announced a host of rate cuts of up to 20 basis points across both ranges.

Elise Coole, managing director at Keystone Property Finance, said: “We hope that the series of rate cuts that we have made in quick succession gives confidence to the market.

“As we have pointed out previously, downward movement in rates isn’t always dependent on changes to Bank Rate. We take a flexible approach to pricing and will always endeavour to pass savings on to brokers and their clients whenever we can.

“In this case, we have been able to apply reductions right across our range giving all customers more competitive lending options.”