Keystone Property Finance has launched a low-price buy-to-let fixed rate aimed at landlords with larger deposits.
The 3.69 per cent 3-year fixed rate product, available up to 65 per cent loan-to-value (LTV), is now the lowest-priced mortgage in the specialist lender’s Classic Range.
It is available to landlords regardless of whether they choose to invest personally or via a limited company, including both trading limited companies and special purpose vehicles.
Keystone does not impose an upper age limit to qualify for finance, and it lends to borrowers aged up to 85 years at the end of the mortgage term.
David Whittaker, chief executive of Keystone, said: “The rate is available on standard buy-to-let property to landlords with slightly larger deposits who are looking to borrow between £50,000 and £750,000.
“It sits nicely beside our other three year fixed rates, each of which are targeted at landlords with specific needs. For example, we have a 3-year fixed rate at 4.29 per cent designed for HMOs with up to eight bedrooms and multi-units with up to 10 flats.
“We also have options for landlords with higher LTV requirements.”
Adrian Kidd, IFA at Unleash Advice Partnership in Kent, commented: “For limited companies it is okay, but for personal investors with 35 per cent deposit the rate is bland.
“You can get 2 per cent rates and a bit better than that on a standard deal, so the rate does not excite me one jot, but for limited companies and special purpose vehicles that is reasonable.
“For older people it would definitely help, as some of the mainstream lenders have a cut off at 75.”
simon.allin@ft.com
