Kensington cuts rates on BTL deals

Kensington cuts rates on BTL deals

Kensington Mortgages has made cuts to the rates on its buy-to-let mortgage range for landlords with a 20, 25 and 30 per cent deposit.

Effective yesterday (April 2), rates now start at 2.54 per cent for a two-year fixed rate and 3.64 per cent for a five-year fixed at 70 per cent loan to value, representing a 0.4 percentage points fall.

A similar fall can be seen on 75 per cent LTV rates, now available at 2.69 per cent and 3.79 per cent for two and five-year fixed rates respectively.

For customers with a smaller deposit, a 0.25 percentage points reduction sees a two-year fixed at 80 per cent LTV now start at 3.24 per cent and at 4.09 per cent for a five-year.

Kensington has also added a combined £250 cashback and free valuation to its residential, buy-to-let and limited company remortgages.

Craig McKinlay, new business director at the firm, said: "The private rental sector is a vital part of our housing market.

"We’re always keen to empower landlords across the UK by increasing the options available to them.

"Kensington has grown and we are committed to passing these benefits on to our customers."