Keystone improves BTL criteria

new level

Keystone Buy to Let Mortgages has made changes its lending criteria and is now offering loans up to £500,000 per property transaction to existing landlords.

This represents an increase of £150,000 on its previous limit.

The ceiling was increased following feedback from brokers revealed that many customer enquiries were for higher value HMOs and multi-unit freehold blocks.

The lender does not impose a limit on the number of loans that can be held with the brand.

David Whittaker, managing director of Keystone Buy to Let Mortgages and Mortgages for Business, said: “One of the reasons for launching Keystone earlier this year was to meet the needs of professional landlords who have been underserved by the mainstream buy to let lenders in recent years.

“Upping the maximum loan amount clearly demonstrates that we are able to respond quickly to investors’ on-going requirements in order that they can expand their portfolios at a time when housing is in desperately short supply.”

Meanwhile, a minimum loan amount of £50,000 has also been introduced although the lender says that for “particularly strong or worthy applications” exceptions can be considered.

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