Keystone, the intermediary-only lender, has today launched a Commercial Owner-Occupier Range which offers a pair of fixed rate deals for business owners looking to purchase or remortgage work premises.
The range is being financed by Secure Trust Bank which has allocated a limited tranche of funds until the end of 2015.
There is a three year fix at 4.89% and a five year fix at 5.69% both of which are offered up to 80% loan to value which includes 10% Personal Guarantee. Up to 70% LTV is available without a PG. Loans are available from £250k to £750k with arrangement fees set at 2%.
Commenting on the range, David Whittaker, managing director of Keystone said:
“We have a long term plan to move into other areas of property finance and when we put the commercial owner-occupier proposition to the Secure Trust Bank team their response was extremely positive. They already have a strong presence in this sector and we’re delighted to have been allocated a special tranche of funds.”
The range has been designed specifically for business owners who have been trading successfully for three or more years. Brokers looking to place cases for sole-traders, partnerships and limited companies will be welcomed. Acceptable property types extend to offices, retail and industrial units, and modern factories and warehouses.
Paul Marston, Managing Director of Secure Trust Bank Business & Commercial said:
“As a standalone mortgage facility with no geographical restrictions in England, Wales and Scotland the Commercial Owner Occupier Range is available for sole-traders, partnerships and limited companies to submit applications by 31st October 2015 with funds drawn down by 31st December 2015.”
A product guide is available for brokers on the Keystone website – www.keystonebuytolet.co.uk. Introducing brokers who have not yet transacted with Keystone will need to register first.
Investors who are interested in Keystone products should contact their broker or Mortgages for Business on 0845 345 6788.