Rate reductions on Kensington Mortgages

Rate reductions on Kensington Mortgages

Kensington has cut rates by up to 0.6 per cent across its buy-to-let and residential mortgage range.

Steve Griffiths, head of sales and distribution at Kensington, said the rate cuts were part of a major growth push.

Key Features

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■ Buy-to-let rates are reduced by up to 0.6 per cent and now start from 3.54 per cent for loan-to-values (LTVs) of 70 per cent and 3.74 per cent for LTVs of 75 per cent.

■ Kensington’s residential rates now start from 3.09 per cent for borrowers with 65 per cent LTV and 3.19 per cent for 75 per cent LTV, following a 0.3 per cent cut.

■ At 80 per cent LTV, rates start at 3.69 per cent.

■ A range of fee options are available.

Adviser Verdict

Martin Reynolds, chief executive of SimplyBiz Mortgages, said: “Our members are seeing demand from consumers who do not fit the high-street norm, and lenders such as Kensington are coming more to the fore with innovative solutions.

“In addition to Kensington’s key self-employed and contractor criteria, the rate reductions prove it is possible to marry both risk and competitive pricing.”