You are here: Home - News -

Keystone scraps self-employed evidence requirements with BTL criteria overhaul

  • 11/10/2017
  • 0
Keystone scraps self-employed evidence requirements with BTL criteria overhaul
Keystone Property Finance has made a series of criteria enhancements aimed at portfolio and non-portfolio landlords.

The maximum individual loan available has been increased from £750,000 to £1m on borrowing up to 65% loan to value. Keystone said the increase was introduced to help a growing number of landlords looking to secure larger loans, particularly on more expensive property.

The larger loan amount is available to landlords borrowing both personally and through a limited company.

Keystone will also accept applications from borrowers aged 21 years, down from 25 years, and non-home-owners will also be considered although they must own at least one buy-to-let property in the UK.

Further, the minimum length of employment or self-employment in a particular role has been scrapped. Previously, applicants were expected to have at least one year’s track record.


Immigration and high rise

Keystone will now accept skilled workers on both Tier 1 and Tier 2 visas, whereas before, only individuals with permanent rights to reside in the UK would be considered.

From a property perspective, flats in high rise blocks will be accepted on a case-by-case basis, depending on the number of storeys and the percentage of private ownership within the block.

Keystone Property Finance CEO David Whittaker said: “We wanted to show both portfolio and non-portfolio landlords that we are open for business, and the new Prudential Regulation Authority (PRA) guidelines will not alter our lending appetite.”

There are 0 Comment(s)

You may also be interested in

  • RT @htbplc: 📢 | We're at the @mortgagesols Specialist Lending Event next month in Esher, Solihull, York and Liverpool. Interested in atten…
  • RT @ShawbrookBroker: Join us at the @mortgagesols Specialist Lending Event 2019 throughout Feb! Don't miss industry experts addressing the…
  • RT @OTJournalist: Eastgate to join Shawbrook as MD of commercial mortgages operation. He's spent more than six years at OSB.…

Read previous post:
Midlands and Northern England show strong house price growth – Halifax

The latest Halifax House Price Index revealed continued lackluster growth in overall UK property prices, with both London and South...