MortgagesOct 9 2014

Keystone reduces buy-to-let tracker rates

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Keystone Buy-to-Let has reduced rates on its ‘premier’ and ‘classic’ term tracker rates, with rates on 75 per cent and 70 per cent loan-to-value being cut by 0.25 per cent.

Rates to 80 per cent loan-to-value have been reduced by 0.05 per cent, the firm said.

Term tracker rates in the classic range now start from 4.84 per cent (Libor plus 4.24 per cent) at 75 per cent LTV. Term tracker rates in the premier range now start from 4.64 per cent (Libor plus 4.04 per cent).

The new reductions follow Keystone’s announcement of the launch of its ‘solutions range’ which provides landlords struggling to qualify for a buy-to-let mortgage with a viable alternative for three years.

David Whittaker, managing director of Keystone said: “These price reductions are good news for landlords who have a greater appetite for risk.

“Whilst they provide less protection against rate rises, these term trackers do allow landlords to borrow more than they could using our fixed rates. We’re delighted that Aldermore Bank, who fund both the classic and premier ranges, found room in its margins to re-priced downwards.”

ruth.gillbe@ft.com