This has been applied to all of its five-year products, including its recently launched Refurb Exit deals. The range enables landlords to access short-term finance for light refurbishments while giving them the option to transfer onto a fixed rate.
Keystone Property Finance has also reduced rates across two-year specialist, product transfer, PT Plus, expat, and holiday let mortgages by the same amount.
Following the rate cuts, Keystone Property Finance now offers a standard BTL mortgage at 70% loan to value (LTV) with a rate of 3.04%, while the specialist option is priced at 3.09% at the same tier.
For its Refurb to Let product at 65% LTV, the rate is now 4.69%, and the expat mortgage at the same LTV band has a rate of 4.54%.
Its holiday let product at 65% LTV is now priced at 4.69%, while the product transfer and PT Plus deal at 65% LTV has the same rate.
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Keystone Property Finance’s switch and fix product at 65% LTV has a rate of 6.04%.
Elise Coole, managing director of Keystone Property Finance, said: “Keystone remains committed to supporting brokers and landlords with competitive, flexible solutions in today’s dynamic market.
“These latest rate reductions, along with the recent launch of our refurb to let range, strengthen our offering and give brokers more opportunities to deliver long-term value to their landlord clients.”
LendInvest announces lowest BTL mortgage rates so far this year
LendInvest has cut its BTL mortgage rates by as much as 0.2%, making them the lowest pricing for two- and five-year fixes this year.
The lender has also reduced pricing on its product transfers, aligning with changes to its mortgage portal to streamline the product transfer process. This saw the lender introduce the use of automated valuation models (AVMs) where possible, as well as automated conduct checks on the existing mortgage that enable pre-populated product options.
Rates start at 3.34% for a two-year term after reductions of up to 0.2%, while five-year fixes have been cut by as much as 0.15% to start at 4.54%.
Its seven-year fixes have also been reduced by 0.05%.
Across its product transfers, two-year terms have been lowered by 0.1% and five-year terms by 0.05%.
Paula Mercer, director of sales at LendInvest, said: “At LendInvest, we are committed to providing competitive and attractive financing options for landlords, whether they be limited company or have a small portfolio.
“This rate reduction across our BTL range, our lowest rates this year, demonstrates our ongoing support for the property investment market.”
She added: “We can appreciate that modern landlords need digital solutions to complex situations, and that’s why we are continuing to improve our product transfer process within our mortgages portal. Through the use of AVMs where applicable and light touch underwriting, we’re seeing cases complete in as little as 24 hours, saving investors time and money.”
