Keystone Property Finance has introduced a new range of Buy-to-Let (BTL) products, featuring a special-edition offering for Houses in Multiple Occupation (HMO) and Multi-Unit Freehold Blocks (MUFB). This move is significant as it provides landlords with more competitive options in the current mortgage market.
What are the new product features in the mortgage market?
The newly launched products are priced 0.15% lower than Keystone’s core offerings, with rates commencing at 3.34%. This reduction is aimed at making BTL investments more appealing to landlords. Additionally, Keystone has streamlined its fee structure, now offering fees of 2.5%, 5%, and 7% across its various ranges, including standard, specialist, expat, and holiday let products.
Who benefits from these changes in the mortgage market?
Landlords investing in HMOs and MUFBs will find these special-edition products particularly advantageous, as they cater to both small and large properties valued up to £1.5 million. This flexibility allows investors to select products that best meet their financial strategies while taking advantage of the reduced rates.
What this means for landlords and investors
The introduction of these products is a positive development for landlords looking to expand their portfolios or refinance existing properties. The lower rates and simplified fee structure could lead to significant savings, enhancing overall investment viability. Investors should keep an eye on how these products perform in the mortgage market and consider them as viable options for their next purchases.
Frequently asked questions
What types of properties do the new products cover?
The new special-edition products cover both small and large HMOs and MUFBs, accommodating properties valued up to £1.5 million.
How do the new fees compare to previous offerings?
The new fee structure includes options of 2.5%, 5%, and 7%, which simplifies the previous offerings and may provide better clarity for borrowers.