Keystone Property Finance has cut its fixed rate range by up to 0.25% ahead of today’s Bank of England (BoE) base rate decision.
The specialist buy-to-let (BTL) lender decided to move ahead of the decision as improved funding conditions mean it has scope to pass additional savings onto landlords.
The lender reduced its Summer Special range by up to 0.25%, Standard ranges by 0.05%, its Specialist range by up to 0.15%, expat ranges by up to 0.20% and its product transfer range by 0.25%.
Additionally, the lender’s new PT+ range, which allows product transfer customers to borrow additional capital, has been reduced by up to 0.25%.
Elise Coole (pictured), managing director of Keystone Property Finance, said: “While many lenders will be waiting for Monetary Policy Committee’s decision before making a call on whether to reprice, we’re able to pass on significant savings to landlords regardless of the outcome.”
“Swap rates – which ultimately determine the cost of fixed rate mortgages – have eased off recently, giving us slack to sharpen our already competitive range.”
“Our mantra as a lender is to pass on savings wherever possible and as quickly as possible so that brokers and their clients get maximum benefit.
“Hence why we have decided to announce these reductions ahead of the MPC’s decision.
“We will continue to do that and hope to be in a position to pass on even greater savings to borrowers in the near future.”
