Keystone joins Foundation Home Loans, Habito, Kensington, Kent Reliance and Vida Homeloans in the top tier, according to Moneyfacts.
This LTV tier will be available on its standard core range and comes in two, five and seven-year fixed rate options. Other lenders also offering seven year-fixed mortgages include CHL Mortgages, Fleet Mortgages, Habito, LendInvest, MPowered Mortgages and Zephyr Homeloans.
The Keystone two-year fixed rate is offered at 4.79 per cent, whereas the five and seven-year fixed rate are priced at 4.99 per cent and 5.19 per cent, respectively. All three products are available on loans of between £50,000 and £500,000.
Keystone has made several criteria and product upgrades so far this year, including offering seven-year fixed rates for the first time, improving its enhanced cashback offering and accepting homes in multiple occupation (HMO) applications from first-time landlords. In April, the lender also lifted its maximum portfolio size to £10m and its maximum individual loan size to £2m.
Speaking to Mortgage Solutions, Elise Coole, managing director of Keystone Property Finance, said: “An 85 per LTV may not be the right fit for landlords with a low yield but for others it could allow them to buy two properties and there aren’t a lot of providers in this space.”
She added: “One of the things that brokers have been telling us is that there are not enough products available for landlords with smaller deposits, which is why we have decided to increase our maximum LTV to 85 per cent on our standard range.
“We also want brokers to know that we are listening to them and that they can expect further exciting new product and criteria developments from us before the end of the year.”
