Keystone Buy to Let Mortgages has re-priced its Premier and Classic term tracker rates.
Specifically, rates to 75 per cent and 70 per cent loan-to-value (LTV) have been reduced by 0.25 per cent. Rates to 80 per cent LTV have been reduced by 0.05 per cent.
Keystone managing director David Whittaker says the 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-price downwards.”
Term tracker rates in the Classic Range now start from 4.84 per cent (LIBOR + 4.24 per cent) at 75 per cent LTV. Term tracker rates in the Premier Range now start from 4.64 per cent (LIBOR + 4.04 per cent).
The reductions come just a week after Keystone announced the launch of its new Solutions Range which provides landlords struggling to qualify for a buy-to-let mortgage with a viable alternative for three years.
Keystone is an intermediary-only lender which has buy-to-let mortgages designed to meet the needs of existing landlords with more complex borrowing requirements.
Amongst its products it has deals designed specifically for houses in multiple occupation and multi-units, and caters to individual landlords as well as those who prefer to invest using a corporate vehicle. Unlike many of the mainstream buy to let lenders, Keystone will lend to trading limited companies and property developers.
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