Keystone Property Finance has lowered all of its Classic two-year fixed rates by 25 basis points and its Classic five-year standard fixed rates by 10 basis points.

The buy-to-let lender has also launched a new 5.5% arrangement fee product on its two-year fixed rates, which sit within its Classic range.

Keystone’s Classic two-year fixed rates now start at 4.94% while its Classic five-year fixed rates are available from 5.79%.

Keystone’s Classic range is suitable for landlords buying standard properties but also smaller HMOs and MUFBs (of up to 6 beds/units). It sits alongside the Complex range, which is aimed at landlords with more complex financing needs, including larger HMOS & MUFBS up to 15 beds/units.

Elise Coole, managing director, at Keystone Property Finance, said: “Although the SWAP markets have been volatile this year, we have started to see better-than-expected inflation data which has resulted in SWAPs edging lower. This has given us another opportunity to pass those savings onto borrowers.

“We have always said we will not wait to do that. Our product teams meet often, meaning we can move quickly if funding conditions change.

“As has been proven this year, SWAPs can go up as easily as they come down. But we will always try to pass any reductions in funding costs onto borrowers in the form of rate cuts as soon as we possibly can.”