Lender cuts BTL mortgage rates after fall in LIBOR
Keystone Buy to Let Mortgages has announced a reduction of 0.30% to all its three-year discounted rates, now starting from 4.98%.
The reduction in rates is due to its provider, Aldermore Bank, resetting its LIBOR down from 1.05% to 0.75%.
Keystone is aimed at both individual and limited company investors who already own at least one residential investment property.
The range includes a selection of fixed and discounted tracker rate buy-to-let mortgages for standard properties, HMO and multi-unit property and it is available exclusively via Mortgages for Business.
David Whittaker, managing director of Mortgages for Business, said: “We are always keen to meet the needs of our customers and we believe this reduction offers a genuine choice to investors and landlords looking for alternatives to fixed rates.
“In particular, applications from limited companies are higher than expected, possibly because we accept trading companies as well as SPVs.”
Rob Lankey, managing director of commercial mortgages at Aldermore, said: “The Keystone Buy to Let Mortgages product range has proven very popular since its launch in April.”