Keystone revamps mortgage range

Robyn Hall

May 1, 2013

The new range will be available for up to 70% loan to value and existing 5-year fixed rates at 75% LTV have been reduced by 0.40%. Similarly 3-year fixed rates at 75% LTV have been reduced by 0.15%.

David Whittaker, Keystone managing director, said: “We’ve worked hard with Aldermore Bank (which provides the funding line) to come up with a stand-out series of 5-year fixed rate products priced below 5%.

“It makes them really competitive particularly for landlords that sit outside mainstream buy to let lending criteria.

“The price reductions on the existing fixed rate products demonstrate how the gap between 3 and 5-year cost of funds has narrowed.

The new 5-year rate is particularly good for investors who like the security of locking in for a longer period of time.”

Keystone has also reduced its lender fee by up to 0.50% on the products designed for multi-unit and HMO properties and applications by limited companies. All fees in the Keystone range can be added to the loan amount on top of the LTV.

From a service perspective, Keystone has increased the number of solicitors on its panel with the appointment of Russell & Russell and changed its title indemnity insurance to speed up the completion time for remortgages.

Rob Lankey, managing director of commercial mortgages at Aldermore, said: “We are delighted to welcome Russell & Russell to the solicitor’s panel; it will certainly help with the rise in applications.

“Similarly the new title indemnity insurance will help Keystone provide a quicker more efficient service to brokers by reducing the time required for searches and paperwork on remortgages.”

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