It also implemented reductions in select residential rates
Specialist lender Kensington Mortgages has announced that it will offer a minimum £250 cashback for all its residential and buy-to-let mortgages, including limited company products, until the end of the month.
The offer includes both fixed and tracker mortgages, with the exception of Kensington’s Flexi Fixed for Term range. The cashback incentive is applicable across all loan-to-values (LTVs), covering both purchase and remortgage products.
Cashback will be paid on completion except for Kensington’s eKo £1,000 Cashback Mortgage, which is disbursed upon qualification, aligning with standard product terms.
In addition, Kensington has implemented reductions in select residential rates, with decreases of up to 75 basis points (bps). Noteworthy adjustments include rate reductions of up to 31bps within Kensington’s 65% to 85% LTV products.
Core rates have seen reductions of up to 70bps in the 70% to 85% LTV category, while products such as large loans, Young Professionals, Hero, eKo, and Right to Buy mortgages have seen reductions of up to 75bps.
Among the newly revised rates, Kensington’s lowest residential offerings feature a 65% LTV five-year fixed rate at 5.59% and a 65% LTV two-year fix at 5.89%, both accompanied by a £999 fee and £500 cashback.
Also worth a look are Kensington’s large loan products, now including a 75% LTV five-year fixed rate at 5.59% and a 75% LTV two-year fixed rate at 5.89%, with a fee of £1,999, a complimentary valuation, and £250 cashback.
Additionally, Hero mortgages from Kensington now present a 75% LTV five-year fix at 5.69% and a 75% LTV two-year fix at 5.99%, each featuring a £999 fee and an added £250 cashback.
“Our decision to offer cashback across all residential and BTL mortgages and reduced rates for our residential products reaffirms Kensington’s commitment to providing greater flexibility for our clients,” stated Vicki Harris (pictured), chief commercial officer at Kensington Mortgages.
“These developments to our offering aim to help more people to realise their aspiration of owning a home and support those looking to remortgage. Over the next 12 months, we look forward to continuing to innovate across our product range and delivering quality service for our clients.”
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