Keystone Property Finance has increased maximum loan sizes and maximum portfolio sizes, changed tax return requirements for the self-employed, added title insurance for remortgages and introduced automatic valuation models (AVMs) to product transfers.
The specialist buy-to-let (BTL) lender’s maximum loan size has gone up from £2.5m to £3m and the maximum portfolio loan size has increased from £5m to £15m.
Keystone Property Finance will only need the latest tax return for self-employed landlords or one payslip for employed borrowers, which is down from three months’ worth of tax returns previously.
To speed up application times, the lender will offer title insurance on remortgages for standard properties and small houses of multiple occupation (HMOs) up to six occupants, with a maximum loan size of £2m.
Keystone Property Finance will use AVMs on all standard properties going ahead during the product transfer process, rather than needing a physical valuation, which it says will make the process more efficient.
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.
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“The increased loan limits reflect our confidence in the market and our commitment to supporting landlords with larger or more complex portfolios. 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.”
At the end of last month, Keystone Property Finance lowered rates across most of its products by as much as 0.2%.