Frequently Asked Questions
Q. What is a portfolio landlord?
A. A portfolio landlord is described as someone with, or looking to acquire four or more mortgaged properties, whether held individually, in a trust or via a limited company.
Q. What products do you offer to a portfolio landlord?
A. All the rates shown on our product guide are available to portfolio landlord applicants. The specialist buy to let range products will only be used if the client is purchasing an HMO or multi-unit property. We can lend up to 80% LTV (75% on the specialist range) and arrangement fees can be added to the loan.
Q. What documentation or evidence will Keystone request for a portfolio landlord case?
A. Keystone needs the following documents to be uploaded to the case via MyKeystone; o A fully completed property portfolio spreadsheet (available from our website) o Proof of mortgage payments if unable to find via credit search o Proof of ID and address.
Q. Does Keystone have a maximum number of properties in the background that the client can have?
A. There isn’t a limit to how many properties an applicant can have in their portfolio. Keystone limits its lending to a maximum of £2,000,000.
Q. How do Keystone stress the applicants background portfolio?
A. The loan to value of the borrowers’ portfolio (including any unencumbered properties) can be up to 80%. Each property in the portfolio will need to be self-financing, meaning that the rental income is higher than the mortgage payments. We stress the rental coverage of the portfolio at 125% at the notional rate of 5.5%, this also includes any unencumbered properties.
Q. How will Keystone treat unencumbered properties?
A. Unencumbered properties need to be included in the client’s portfolio spreadsheet as they need to be included when assessing the affordability of the overall portfolio.
Q. How do Keystone use eTech (The Buy to Let Hub) for portfolio landlord cases?
A. Keystone use eTech’s system to evaluate the applicant’s portfolio and determine whether it fits our stress test calculations. Automated Valuation Models will be provided by eTech on each property within the portfolio.
Q. Will my clients commercial/semi-commercial properties be included in the portfolio calculations?
A. No, Keystone will only assess residential properties in the applicant’s portfolio when submitting.