Keystone ups cashback by up to 50%

Keystone Property Finance has increased the amount of cashback it pays on loans valued between £150,000 and £400,000 to a maximum of 50%.

Keystone ups cashback by up to 50%

Buy-to-let (BTL) lender Keystone Property Finance has increased the amount of cashback it pays on loans valued between £150,000 and £400,000 to a maximum of 50%.

 

Landlords will also receive £1,250 back in cashback, up 25% from £1,000 previously.

Those who borrow between £400,001 and £750,000 will receive £2,000 cashback (up 33% from £1,500) while those borrowing between £750,001 and £1m will receive £3,000 (up 50% from £2,000).

Separately, Keystone has split its core - standard, specialist, cashback and green - holiday let and product transfer ranges, which means there will now be separate guides for each product set.

The lender has also launched a new Agreement in Principle (AIP) certificate, meaning that every time a broker completes an AIP with Keystone, they will receive an email confirmation for their records.

Elise Coole, managing director of Keystone Property Finance, said: “The government’s buy-to-let tax reforms in 2016 and the PRA’s decision to overhaul the underwriting rules for portfolio landlords led to a significant spike in the uptake of five-year fixed rate mortgages the following year.

“It means there will be thousands of landlords coming to the end of their deals this year who will either have to remortgage or opt for a product transfer with their current lender, if they offer one.

“By enhancing our cashback offering, we are offering landlords the ability to switch onto a competitive fixed-rate deal with another lender without the significant costs usually associated with remortgaging.

“And as one of just a handful of specialist lenders to offer product transfers, brokers and landlords can rest assured that by choosing Keystone they will be offered a highly competitive rate in the future when their fixed rate period comes to an end.

“We are constantly asking for feedback from brokers to make sure that we are not only offering the products and services that they need, but also that our processes and systems are as efficient as possible.

“That’s why we’ve decided to separate our core range, holiday let and product transfers offerings into three separate ranges, each with their own product guide, which will make it easier for our brokers when looking for the best suitable product on the market.”

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