Keystone Property Finance is offering up to twice as much cashback as part of a new enhanced cashback offering as it celebrates hitting £600m in completions.

The specialist buy-to-let lender has replaced its larger loan cashback offer, which paid £750 on loans between £150,000-£500,000 and £1,000 on loans between £500,001-£1m, with a new enhanced three-tier scheme.

As of today, the lender is offering the following levels of cashback:

• £1,000 on loans between £150,000 and £400,000;
• £1,500 on loans between £400,001 and £750,000;
• £2,000 on loans between £750,001 and £1m.

The changes come as Keystone celebrates hitting £600m in completions since re-launching in 2018.

The specialist buy-to-let lender was founded in 2006 in partnership with Bradford & Bingley, before establishing funding partnerships with Aldermore and then Paratus AMC.

However, Keystone re-emerged as a full in-house lender in September 2018, meaning it is the legal title holder of the mortgages and is  in full control of the end to end origination.

Elise Coole, managing director of Keystone Property Finance, said: “Our larger loan cashback offer has been hugely popular with both brokers and landlords since we introduced it back in May.

“But we felt we wanted to give a little bit extra back to landlords as we celebrate a key milestone in our history.

“We are thrilled to have reached £600m in completions in such as short space of time and we realise we wouldn’t have achieved that had it not been for our loyal broker partners and their clients.

“At the same time, finances are still tight for many landlords, a situation that won’t be helped if the Bank of England presses ahead with a rate rise in the coming months, as expected.

“We thought the best way to provide some sort of relief to our borrowers would be to put more cash back into their pockets, which is why we decided to introduce a new and improved cashback offering.”