You are here: Home - News -

Keystone launches bridging range

  • 01/09/2015
  • 0
Keystone launches bridging range
Buy-to-let lender Keystone has created a short-term finance range, offering a selection of bridging loans aimed at residential landlords.

Landlords can borrow against auction purchases, refinances and refurbishment projects and the range includes products starting from 0.85% per month for loans between £50,000 and £1m.

Lancashire Mortgage Corporation is providing funding for the bridging range, which prices products according to credit profile. Rates for prime borrowers and those with light-medium and medium-heavy adverse credit are included, with lending available up to 70% loan-to-value (LTV) as standard and up to 75% LTV by referral.

There is no price difference on loans for individuals and limited company applicants.

David Whittaker, managing director of Keystone (pictured), said: “Lending decisions can be made within hours if needed and funds can be released in five working days or less. There are no exit fees and brokers will be paid a proc fee of 0.5% of the loan amount on the day of completion.

“Fees and costs to the borrower have been kept as low as possible. The facility fee is 2% of the loan amount with a one-off assessment fee of £199. Valuation and legal costs are the same as for products within the Solutions Range.”

There are 0 Comment(s)

You may also be interested in

Read previous post:
A professional advises a client
Lending reaches highest level since MMR implementation

Mortgage lending totalled £18.5bn in July, the highest amount recorded since the introduction of the Mortgage Market Review in 2014,...