Keystone Property Finance has entered the semi-commercial lending market for the first time.
The specialist buy-to-let lender said the new range will allow it to lend on properties with both commercial and residential elements.
The launch follows the introduction of Keystone’s first refurb-to-let range last year and marks its second move into a new market segment in the past 12 months.
Landlords can choose from two-year and five-year fixed rates, with pricing starting at 7.14%. The products are available for both purchase and remortgage cases.
The maximum loan size is £2 million, with lending covering the whole property and affordability assessed solely on the residential rental income.
The range is available across standard units, HMOs, multi-unit freehold blocks and holiday lets. Keystone said lending would be open to limited companies, trading limited companies, SPVs, LLPs and individual borrowers.
Elise Coole (pictured), managing director at Keystone Property Finance, says: “This is a really exciting expansion for Keystone. We already have one of the most comprehensive product ranges in the specialist buy-to-let market, but we’re always in dialogue with brokers about where the gaps are.
“What we’ve heard consistently is that landlords are increasingly looking beyond traditional buy-to-let in search of stronger yields and greater diversification, yet semi commercial remains underserved by lenders relative to the demand that’s out there.
“That’s why, over the past twelve months, we’ve made two significant moves into new segments – first Refurb to Let and now semi commercial. Both have been driven by clear, broker-led demand and reflect our commitment to expanding where brokers genuinely need more support.
“This is a natural progression for Keystone and we’re proud to offer brokers another option in this space. As with our core buy-to-let range, brokers can expect from us the sort of straightforward, common sense underwriting they need to place cases with confidence.”
