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Keystone adds auction and commercial finance products to range

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  • 17/05/2016
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Keystone adds auction and commercial finance products to range
Keystone Property Finance has introduced two new product ranges including auction finance with a ‘valuation bypass’ facility.

The auction range provides short-term finance solutions for borrowers looking to purchase residential and commercial property under the hammer and will allow some applicants to bypass the valuation process. This could see lending decisions made within hours and funds available within five days if necessary.

This range is available on terms of between three and 12 months, up to 70% loan-to-value (LTV).

Keystone’s commercial mortgage range is targeted at investors and business owners looking to purchase property in a range of sectors, including business, retail leisure and industry.

Lending will be based primarily on the 180-day market value, although 90-day valuations will be used for borrowers with medium levels of adverse credit. Rates start at 7.99% and are available up to 70% LTV.

Keystone has also refreshed its Short Term Finance Range to include rates for commercial property starting at 1.15% per month to 70% LTV.

Rates for residential property have been reduced and now start at 0.75% per month, down from 0.85% pcm.

For commercial property a maximum of 70% LTV is available as standard and up to 75% LTV on referral while the minimum loan size has been reduced to £30,000 from £50,000.

The property finance provider has also updated its buy-to-let range, offering both interest-only (3-15 years) and capital and interest (6-25 years) terms and reduced rates, now starting at 7.16%, down from 7.99%.

All four ranges are funded by Together Money and have rates for borrowers with prime and light-to-medium adverse credit profiles.

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