Keystone Property Finance has reduced all of the products in its product transfer and Switch & Fix ranges by 20 basis points.

Product transfer rates now start at 6.29%, while Switch & Fix deals, which allow existing Keystone variable rate borrowers to switch to a fixed rate, now start at 5.79%.

The buy-to-let lender has also reduced fees on all HMO (houses in multiple occupation) and multi-unit products in its complex range by 50 basis points, with fees now starting at 2.5%.

Within the complex range, the lender has also introduced two new 4.5% fee products for borrowers buying or refinancing a large HMO or multi-unit property up to 15 beds or units. The first has a rate of 6.19% and is available to 65% LTV, while the second is available at 6.29% up to 75% LTV.

Keystone Property Finance managing director Elise Coole says: “With swap rates still volatile and many lenders increasing their rates, I’m delighted to be able to announce these reductions. One of our core principles is to ensure that we pass on rate and fee reductions to brokers and borrowers as soon as we are in a position to do so, rather than waiting around. This is further proof of that.

“The past few weeks have brought challenges for funding conditions, but we remain eagle-eyed to spot opportunities to bring down the cost of borrowing from us as a lender – and we won’t hesitate to introduce further reductions when circumstances allow.

“One of the things brokers have been telling us consistently over the past few months is that they would like to see more lower rate, higher arrangement fee deals. So we have acted.

“The main benefit of this type of deal, of course, is that borrowers can typically achieve larger loans than if the rate were a little higher and the fee a little lower. While it might not be right for every borrower, we hope this move demonstrates that we listen to our brokers and that we are willing to act on their suggestions wherever possible.”