Kensington Mortgages has issued new rates for self-employed mortgages.
The lender takes company profits into account as well as salary and dividends in its criteria for self-employed sole company directors and their partners.
Key features
The two- or three-year fixed-rate loans for purchase or remortgage are available from 22 June
Two- or three-year fixed rates at 65, 75 or 80 per cent loan-to-value
At 65 per cent LTV the rates are 3.09 per cent for two-year and 3.39 per cent at three-year with a completion fee of £999. There are also rates of 3.54 per cent for two-year and 3.79 per cent for three-year without a completion fee
At 75 per cent LTV it is the same with the £999 fee version charging 3.19 per cent and 3.49 per cent for two- and three-year fixed, and then 3.64 per cent and 3.89 per cent for the fee-free version
At 80 per cent LTV it is 3.69 per cent and 3.99 per cent with the fee for two- and three-year fixed, or 4.09 per cent and 4.34 per cent for the fee-free
Maximum loan £1m
IFA VERDICT
Ray Boulger, senior technical manager at London-based John Charcol, said: “This criteria enhancement will be warmly welcomed by brokers and their self-employed clients and should help some of the mortgage prisoners. Some may now even be able to think about moving home!”
fa.newsdesk@ft.com
