The products will be removed at the close of business and the lender said it will honour any full applications which have been received before the deadline. Existing rates will be secured as long as the loan is completed within three months.
Kseye’s hybrid buy-to-let product launched in October last year, offering loans ranging from £150,000 to £25m over a 24-month term. Features of the loan include the option to defer interest payments. Top slicing is also permitted, and the products are suitable for various property types.
Jitendra Khagram, co-founder and director of Kseye, said: “As the Bank of England rates continue to rise, the short-term finance market is not immune from the pressures this creates. Due to this, we have reconsidered our existing hybrid buy-to-let range, and will be announcing a product range with increased rates on Monday 25 April.
“Before we withdraw our current products, we encourage brokers and clients to submit an application to ensure that they can benefit from our existing rates.”
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