Keystone Buy to Let Mortgages has increased the procuration fees on its Solutions Range from 0.75% to 1% on all completed cases.
The change applies to all applications submitted from 1 February 2015 onwards.
Meanwhile, loan offers from the Solutions Range can now be turned around within one week from instructing solicitors, the lender said.
David Whittaker, managing director of Keystone Buy to Let Mortgages, said: “We’ve worked extremely hard with our funding partners, Lancashire Mortgage Corporation, to get the application processing right and believe we have implemented a very slick workflow. We can already offer within 48 hours of receiving a case and valuations are then carried out within a few days. We are now confident that, if required, we could complete an application and draw down funds within a week of instructing solicitors.”
The Solutions Range was launched in October 2014 and has proved popular with landlords unable to get a buy to let mortgage. Initially, the appeal for landlords was the credit repair aspect of the range.
The Solutions Range has rates starting at 8.49% fixed for three years for individuals and 8.99% for limited companies with higher rates applied to borrowers with more untidy credit profiles. Loans are available from 55-70% (up to 75% by referral).
Whittaker added: “As an intermediary only lender, the feedback from brokers has been extremely positive too, not only because we can help on the credit repair angle but also because we can find a home for non-standard properties and borrowers looking for finance in a limited company capacity.”
