Lender launches new special rates and reduces tracker rates
Specialist lender Kensington Mortgages has announced rate changes on its residential and buy-to-let mortgage ranges.
The lender said it is introducing a new residential loan-to-value (LTV) special rate, with a 65% LTV two-year fixed rate starting at 6.19% and a five-year fix at the same LTV starting at 5.89% – both with a £999 fee.
Purchase customers availing of this offer will also get complimentary valuation and an additional £500 cashback, while remortgage customers will also get the same but with the option of either a £500 cashback or free legals.
These price updates follow Kensington’s introduction of an enhanced large loan offering, from £500,000 to £2 million. The recent addition of a new three-year fixed option also complements the existing two and five-year fixed rate products.
Kensington has also updated its fixed rate specials for buy-to-let investors, with a 70% LTV two-year fix now available at 4.19% and a 75% two-year fix at 4.64%, both with a 5% fee. All fixed rate specials include a complimentary valuation.
The specialist lender is also adding a new two-year variable special rate tracker mortgage to its buy-to-let range, at 75% LTV and a 5.60% rate. The new offering includes a 3% fee in addition to a free valuation.
Across its buy-to-let tracker mortgages, Kensington has reduced rates and included free valuations for all 75% and 80% LTV products. Residential tracker mortgages up to 75% and 80% LTV also all offer a free valuation.
“These updates represent our unwavering dedication to providing mortgage solutions that offer more options to customers,” commented Vicki Harris (pictured), chief commercial officer at Kensington Mortgages. “By collaborating closely with brokers, Kensington empowers borrowers to choose the most suitable loan, providing the flexibility needed to navigate individual financial circumstances.
“Our service, with an average processing time of just 11 days from application to offer, means that those looking to secure a deal before Christmas should be able to do so. As a trusted partner to our customers and brokers, we continue to set industry standards by prioritising flexibility, affordability, and customer satisfaction.”
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