The biggest reductions are on its ‘Switch & Fix’ products, which allow variable rate borrowers to switch fee-free at any time to a fixed rate. These have been reduced by up to 20 basis points, with the range now starting at 5.24%.

The specialist lender has also reduced its two-year standard fixed rates by 15 basis points — with this range now starting at 3.24%.

Meanwhile, rates on its specialist range, covering HMOs and multi-unit properties (for one to six occupants or units) have also been reduced, with its two-year fix reduced by 15bps, and now starting at 3.29%, depending on LTV.

Keystone has also reintroduced its 7% arrangement fee option. This is available at 70% LTV across both two and five-year fixed rates.

Keystone Property Finance managing director Elise Coole says: “As ever, we are committed to ensuring that reduced borrowing costs are passed on to borrowers as soon as possible, so we remain a step ahead in delivering value to the market.

“This means we can offer more competitive options to brokers and their landlord clients.”

Coole says the reintroduction of the 7% arrangement fee was in response to demand from brokers for this option. “This option provides landlords with the flexibility they need to manage affordability and achieve the leverage they’re looking for,” she adds.