Keystone Property Finance has brought in a series of criteria changes to speed up applications and save brokers time.
The lender has increased its maximum loan size from £2.5m to £3m, and the maximum portfolio loan size has gone up by £5m to £15m.
From today, 3rd November, self-employed landlords need to provide just their latest tax return, and employed borrowers only need to submit one payslip, rather than three months’ worth.
Keystone will now use title insurance for remortgages on standard properties and small houses in multiple occupation (HMOs) with up to six occupants, with a maximum loan size of £2m.
Additionally, Keystone will also use automated valuation models (AVMs) for all standard properties instead of full physical valuations on product transfers.
Elise Coole, managing director at Keystone Property Finance, said: “These enhancements are all about streamlining the application journey for brokers and their clients.
“By reducing documentation requirements and embracing AVMs and title insurance, we’re removing friction from the process and delivering faster, more flexible solutions.
“The increased loan limits reflect our confidence in the market and our commitment to supporting landlords with larger or more complex portfolios.”
Coole added: “Combined with simplified income verification and our partnership with LMS, brokers will experience a smoother, more efficient process from application to completion.
“These updates stem from extensive broker feedback, which continues to shape how we evolve our criteria and systems.
“We will keep listening to our partners to ensure that our range and offering continue to meet their needs in what is an ever-evolving market.”
