x
By using this website, you agree to our use of cookies to enhance your experience.

TODAY'S OTHER NEWS

Keystone bolsters lending criteria

Keystone Property Finance has announced the upgrade of its criteria for portfolio and non-portfolio landlords.

The buy-to-let lending brand has increased the maximum individual loan from £750,000 to £1 million on borrowing up to 65% loan-to-value.

Landlords who wish to secure larger loans on more expensive property will benefit from the change, with the increase available to landlords borrowing both personally and via a limited company.

Advertisement

When assessing a landlord’s suitability, Keystone will now accept applications from borrowers aged 21 years, down from the previous limit of 25 years old. It will also consider non-homeowners who own at least one buy-to-let property in the UK.

Along with this, Keystone has scrapped the minimum length of employment or self-employment in a particular role. Applicants were expected to have a minimum of one year’s track record.

Tier 1 & 2 visa applicants will now be accepted, as well as flats in high rise blocks.

Commenting on the enhancements, David Whittaker, chief executive of Keystone Property Finance, said: “We wanted to show both portfolio and non-portfolio landlords that we are open for business, and the new PRA guidelines will not alter our lending appetite.”

icon

Please login to comment

MovePal MovePal MovePal
sign up