In addition to rate reductions, the following criteria changes have been made:
• Maximum number of units in a multi-unit has been increased to six (from four)
• Minor unsecured credit will now be considered
• Maximum lending exposure now £1m
Applicants who are not home-owners must own at least two buy to let properties
Keystone has also launched its new online broker portal, known as KASS (Keystone Application Submission System), which will speed up case processing and allow brokers to track the stages of every deal.
Commenting on the changes, managing director, David Whittaker said: “Despite the Brexit result, its business as usual at Keystone and as you can see we have been very busy. The reduction in rates means that we are now able to better compete on pricing, particularly with five year fixes. Brokers will be particularly pleased that we have been able to up the procuration fee to 0.6% of the loan.”
