Keystone Property Finance has introduced criteria changes to attract more landlords.
- Maximum loan sizes have increased from £2m to £2.5m per property, improving accessibility.
- The lender now accepts applications from first-time landlords, enhancing flexibility.
- Self-employed expats with two BTLs can now apply, broadening opportunities.
- The new criteria ensure enhanced options for properties with diverse licensing needs.
Keystone Property Finance has implemented a series of strategic modifications to its lending criteria. These adjustments are designed to open up its offerings to a wider spectrum of landlords, potentially broadening its market appeal significantly. The lender has increased its maximum loan size per property from £2 million to £2.5 million, which covers 70% loan-to-value (LTV) products that were previously capped at £1.5 million.
In an effort to cater to a more diverse landlord base, Keystone is now accepting applications from first-time landlords. This marks a shift towards inclusivity and flexibility within the market, allowing those new to property investment to gain entry, particularly in cases where the property is situated above a commercial premise, with loans now possible up to 75% LTV.
Further expanding its reach, Keystone has opened its doors to self-employed expatriates who own at least two buy-to-let properties. These individuals, provided they can demonstrate income from their current business ventures, are now part of Keystone’s target audience, reflecting a commitment to serve varied financial backgrounds.
Keystone’s enhancements also address licensing complexities. From 5th November, the lender’s specialist range will continue to be available only to landlords handling properties that necessitate a mandatory licence. However, those managing properties that require additional or selective licences can now benefit from Keystone’s standard product range, pending verification of Local Authority planning criteria, thereby simplifying the selection process and increasing efficiency.
Elise Coole, the managing director of Keystone Property Finance, articulated the company’s intentions behind these changes, stating, “We’re excited to introduce these enhancements, which expand our product range’s appeal to a broader spectrum of landlords. These changes address areas of the market that are currently underserved by lenders, so we are pleased to be able to meet that unmet demand.” Her comments underscore the company’s ongoing commitment to adapting its services in response to evolving market conditions, ensuring they provide tailored, practical solutions for even the most complex financial scenarios.
Keystone Property Finance’s new criteria effectively extend benefits to a broader landlord demographic, fostering increased inclusivity and market responsiveness.
