Keystone Property Finance has broadened its appeal to landlords with recent criteria changes.
- The lender has increased the maximum loan size per property to £2.5 million.
- New applications are now accepted from first-time landlords with properties above commercial premises.
- Self-employed expats with two buy-to-lets can now apply, showing current business income.
- Landlords requiring additional licences can select from Keystone’s standard range subject to local approval.
Keystone Property Finance has strategically updated its lending criteria to attract a broader base of landlords. By increasing its maximum loan size from £2 million to £2.5 million, the lender is positioning itself as a more competitive option in the buy-to-let mortgage market. Additionally, this enhancement reflects Keystone’s commitment to providing flexible and expansive financial products that cater to diverse landlord needs.
A notable change is the acceptance of applications from first-time landlords operating properties above commercial premises. These applicants can now access loans up to 75% loan-to-value (LTV). This move is likely to appeal to new investors seeking to enter the property market, as it provides them with more accessible financing options under potentially advantageous terms.
Furthermore, self-employed expatriates now have the opportunity to apply for loans if they manage at least two existing buy-to-let properties and demonstrate income from their current business. This inclusion opens doors for a demographic that often faces barriers in securing loans due to non-traditional income documentation.
Keystone has also adjusted its product offerings for landlords dealing with properties requiring different types of licences. Those dealing with properties needing mandatory licences will continue to use the specialist range. However, for properties requiring additional or selective licences, landlords can now choose from the standard range, given they meet the local authority’s planning requirements. This change simplifies the lending process and potentially reduces complexity in product selection for landlords.
Keystone’s enhancements demonstrate its commitment to meeting the varied needs of landlords in an evolving market.
