Keystone Property Finance has cut its complete range of variable rate mortgages by 15 basis points.

The lender’s standard range of variable rate mortgages now starts at 5.5% (Bank Base Rate plus 2.5%) at 65% LTV, while a 75% LTV deal is available at 5.6% (BBR + 2.6%).

Keystone’s specialist variable range, for HMOs and multi-unit properties, now starts at 5.75% (BBR + 2.75%) at 65% LTV. The range also has a 75% LTV variable rate priced at 5.85% (BBR + 2.85%)

Following the reductions, Keystone’s standard ex-pat variable range starts at 5.9% (BBR + 2.9%) and its specialist ex-pat variable range begins at 6.15% (BBR + 3.15%).

Holiday let variable rates are now available at 6.1% (BBR + 3.1%) at 65% LTV and 6.2% (BBR + 3.2%) at 75% LTV.

Keystone returned to market with a range of fixed rates last week, the cheapest of which starts at 6.99%.

The lender continues to allow any borrower who has completed on a variable rate loan since September to move onto selected fixed rate deals using its ‘switch & fix’ initiative.

Elise Coole, managing director at Keystone Property Finance, said: “We’re delighted to be able to introduce cost savings for landlords at a time when the news is dominated by how much rates are rising.

“These reductions not only help brokers and borrowers to secure an even better deal from Keystone, they put our range right up there with anything in the specialist end of the buy-to-let market.

“We have a range that is not only highly competitive in current market conditions but also incredibly varied and flexible, meaning we have something to offer all landlords with more complex needs.

“As always, we will continue to listen to brokers over the coming weeks and months to consider how else we can improve our range, whether that be through further rate reductions or criteria enhancements to make our product suite even more attractive.”