Keystone Property Finance has reduced its classic two-year fixed rates by 25bps and its classic five-year standard fixes by 10bps.
The lender has also launched a new 5.5% arrangement fee product on its two-year fixes, with rates starting from 4.94%, while five-year fixes are available from 5.79%.
Keystone’s classic range is suitable for landlords buying standard properties but also smaller HMOs and MUFBs of up to six units — sitting alongside the complex range which is aimed at landlords with more multifaceted financing needs, including larger HMOS & MUFBS of up to 15 units.
Elise Coole, MD at Keystone, said: “Although the swap markets have been volatile this year, we have started to see better-than-expected inflation data which has resulted in swaps edging lower.
“We have always said we will not wait to do that — our product teams meet often, meaning we can move quickly if funding conditions change.
“Swaps can go up as easily as they come down, but we will always try to pass any reductions in funding costs onto borrowers in the form of rate cuts as soon as we possibly can.”
