Specialist lender Keystone Property Finance has appointed Morgan Barnes as its head of product transfers.
In her newly created role, she will report to Elise Coole, managing director, and lead a dedicated product transfer team that includes a team leader and a number of specialists.
Barnes has been working at Keystone Property Finance since 2016, initially joining as a senior case manager before moving up to team leader, then head of case management.
Keystone Property Finance launched its product transfer proposition in 2021 and, in 2024, released its PT Plus range, which allows landlords to apply for additional borrowing.
The former has no application or legal fees, free valuation, and 1%, 3% and 5% arrangement fee options. It goes up to 80% loan to value (LTV) for standard properties and 75% LTV for specialist expat and holiday let properties. It also offers a 0.45% procuration fee.
The plus range is a product transfer with additional borrowing and has no application fee, free valuation, and 1.5%, 3.5% and 5.5% arrangement fees, as well as a procuration fee of up to 0.55%.
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Product transfers in the specialist buy-to-let (BTL) market have become increasingly important as more borrowers come off lower deals and may struggle to remortgage due to affordability.
The way some specialist lenders are funded has created challenges around offering product transfers, but Keystone Property Finance has talked with its funders to ensure that this can be offered and has been doing so for years.
Barnes (pictured) said: “I’m thrilled to take on this role at a time when product transfers are becoming an increasingly important part of the BTL market. More and more customers are choosing product transfers because they’re quicker, simpler and more cost-effective than a full remortgage, which is why we are investing in this area of our proposition.
“As one of the few specialist BTL lenders offering product transfers, we have always been committed to providing flexible and innovative solutions for our customers. This is reflected in the launch last year of our one of a kind PT Plus product, which allows customers to apply for additional borrowing alongside a product transfer.
“Since launching our product transfer proposition four years ago, it has evolved significantly. Over the coming 12 months, we will continue to enhance the journey, making it even smoother, faster and more efficient for brokers and their clients. This includes expanding the team to ensure we can meet the increasing demand for this type of product.”