Keystone Property Finance has reduced its rates on all two-year fixed rate products in its Classic range by up to 40 basis points.

The biggest rate reduction is on its 4.5% fee products, which have been cut by 40 basis points.

Meanwhile, rates on its 3.5% and 2.5% fee products have been reduced by 30bps and 20bps, respectively.

The Kent-based lender announced earlier this month that it had split its range of products in two with a new ‘classic’ and ‘specialist’ offering.

The ‘classic’ range is suited to mainstream landlords with standard buy-to-let criteria, while its ‘complex range’ is aimed at landlords with more specialist financing needs.

Following this re-pricing, the cheapest two-year fixed rate for standard properties in its ‘classic’ range is 4.29% while for HMOs and multi-units up to six beds its 4.44%.

Elise Coole, managing director, at Keystone Property Finance, said: “As a business, we never want to rest on our laurels, and that is why we have quickly followed up on the launch of our new ranges with a major price reduction.

“We have now reduced rates twice in quick succession and we will continue to take proactive steps to enhance the products and services we offer to brokers.

“As a specialist lender built by brokers, we understand what it is that brokers are looking for and have the solutions in places to support them.”