Keystone launches purchase-only buy-to-let deals

Keystone launches purchase-only buy-to-let deals

Buy-to-let lender Keystone Property Finance has launched a purchase-only
product range.

The range provides products at 65 per cent and 75 per cent loan-to-value with
rates starting at 2.99 per cent for standard buy-to-let applications.

For purchase applications on houses of multiple occupation or multi-unit blocks,
rates start from 3.19 per cent.

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The pricing of the range launched today (March 4) mirrors Keystone's existing standard and specialist buy-to-let mortgages and offers a £750 cashback incentive for loans less than £250,000 on completion.

For loans between £250,001 and £1m, the firm is offering a £1,250 cashback incentive on completion.

David Whittaker, chief executive of Keystone Property Finance, said: "Landlords have seen a number of changes over the past two and a half years but they are very resilient and have a healthy appetite to look at further buy-to-let purchases and our sales team are here to help brokers with any complex borrowing requirements."

This is the first new offering from the lender since it relaunched into the buy-to-let
market in September 2018 with full lender status.

For the previous six years, Keystone originated more than £400m of loans via
intermediaries, networks and mortgage clubs.

Daniel Bailey, principle at mortgage broker Middleton Finance, said: "Keystone can offer an alternative to your more main stream lenders. They can often provide a solution where more traditional lenders cannot help. 

"The cashback and refund of the valuation is positive step and will help with up
front costs on purchasing a property."

Jenny Turton is a freelance journalist