In brief

Kensington Personal Loans (KPL) will offer products to a range of borrowers, from near-prime to unlimited adverse, with criteria such as self-certification up to 90 per cent loan-to-value (LTV) for clients with arrears (maximum income limits apply) and loan amounts up to £100,000. The products will initially be available via a small number of packagers.

SMP membership reaches 3,000

Membership of the Chartered Institute of Insurer’s (CII) Society of Mortgage Professionals (SMP) has passed the 3,000 mark. Richard Fox, chief executive of the SMP, said: “As products and services available within the market continue to expand, so does the need for properly qualified advisers who are able to provide customers with comprehensive and competent solutions.”

Woolwich changes BTL


Woolwich has announced changes to its buy-to-let (BTL) criteria. The move is aimed at providing a simple and more competitive approach to rental calculation. Minimum interest cover will reduce from 130 per cent to 125 per cent and interest will now be calculated at a nominal rate of 5 per cent.