Keystone enhances lending criteria
Keystone Property Finance has made a series of criteria enhancements aimed at helping both portfolio and non-portfolio landlords.
The maximum individual loan available has been increased from £750k to £1m on borrowing up to a 65% LTV.
Keystone will now accept applications from borrowers aged 21 and over, down from 25 years old previously and the minimum length of employment or self-employment in a particular role has been scrapped.
Keystone has also broadened its remit on UK residency requirements and will now accept skilled works on both Tier 1 and Tier 2 visas and flats in high rise blocks will be accepted on a case-by-case basis.
David Whittaker (pictured), chief executive of Keystone Property Finance, said: “We wanted to show both portfolio and non-portfolio landlords that we are open for business, and the new PRA guidelines will not alter our lending appetite.”
The increase has been introduced to help a growing number of landlords who are looking to secure larger loan.