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Keystone and CHL Mortgages cut fixed BTL rates – round-up

  • 07/12/2022
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Keystone and CHL Mortgages cut fixed BTL rates – round-up
Keystone Property Finance has reduced rates on fixed buy-to-let products by as much as 0.65 per cent.

Changes apply to all of its five-year fixes in its core, specialist, expat and holiday let ranges, while its switch and fix deals have been reduced by 0.2 per cent. 

The product at 65 per cent loan to value (LTV) for standard buy-to-let properties has a rate of 6.09 per cent and at 75 per cent LTV, this is priced at 6.19 per cent. 

For specialist properties, the rate is 6.29 per cent at 65 per cent LTV and 6.39 per cent at 75 per cent LTV. 

Rates on standard expat products start at 6.34 per cent at 65 per cent LTV and 6.44 per cent at 75 per cent LTV. The specialist equivalents have rates of 6.54 per cent and 6.64 per cent respectively. 

Across its holiday let offering, the rate at 65 per cent LTV is 6.54 per cent and at 75 per cent LTV, the rate is 6.64 per cent. 

All products have a four per cent arrangement fee but lower fees are available at a higher rate. 

Keystone’s switch and fix product which allows landlords on a variable rate to move onto a fixed rate at no cost is now priced at 5.84 per cent. 

Elise Coole, managing director of Keystone Property Finance, said: “One of the things we pride ourselves on at Keystone is our ability to react quickly to market developments to ensure our range remains competitive. 

“Over the past few weeks, the market has stabilised and swap rates have rolled back, so we have taken the opportunity to pass on those lower funding costs to brokers and their clients.” 

She said the lender would continue to monitor markets and quickly make further rate cuts if conditions allow. 

Coole added: “In the meantime, we are confident we have a competitive and varied range of products that will suit the needs of most landlords.” 


CHL Mortgages  

Buy-to-let lender CHL Mortgages has reduced pricing on two and five-year fixes by up to 0.5 per cent. 

The five-year fixed deal for individuals and limited companies/LLP at 70 per cent LTV has been cut by 0.45 per cent to 6.19 per cent.  

The products for houses in multiple occupation (HMO) and multi-unit freehold blocks (MUFBs) have been cut by 0.5 per cent to 6.24 per cent for smaller properties and 6.29 per cent for larger residences. These are also available at 70 per cent LTV. 

For short-term lets, the mortgage has been reduced by 0.5 per cent and is now 6.24 per cent. Refurbishment products have been cut by up to 0.4 per cent. 

All products have a three per cent fee and early repayment charges which decline incrementally. 

Ross Turrell, commercial director at CHL Mortgages, said: “As the money markets have stabilised, we have taken the opportunity to reduce our rates.  

“The reduction in the five-year fixed rate products which are stressed at pay rate should help our intermediary partners help generate a higher maximum advance for their landlord clients.” 

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