"This latest update to our product range highlights the increasing breadth of Kensington’s offering"
- Vicki Harris, chief commercial officer at Kensington
Kensington Mortgages has lowered mortgage rates and launched new options across both its residential and buy-to-let ranges.
Kensington has reduced rates by up to 20bps across selected residential mortgages, including its Select, Core, Hero, Young Professionals, eKo £1,000 cashback, eKo £500 Reward, and Property Plus ranges.
Within its Select range, five-year fixed rates now start at 5.29%, three-year fixes at 5.49%, and two-year fixed rates at 5.59%, all available up to 75% LTV with a £999 fee.
For its Hero mortgages, Kensington is now offering a five-year fixed rate at 5.19% and a two-year fix at 5.49%, both up to 75% LTV with a £999 fee. Additionally, Kensington has adjusted its five-year fix for both its eKo £1,000 cashback and eKo £500 Reward green mortgages up to 75% LTV, both offering a rate of 5.39% with no fee.
Kensington is also introducing more options for residential clients with smaller deposits, adding no-fee options at 95% LTV. Kensington’s five-year fixed rate starts at 7.44% with no fee and a free valuation in addition to an option at 6.94% with a £1,299 fee. Its three-year fixes include a rate of 7.59% with no fee and a free valuation, as well as a 7.09% and £1,299 fee option. Two-year fixed rates start at 7.49% with a fee and 7.99% fee-free.
In its buy-to-let range, Kensington is reducing rates by up to 96bps, including its HMO and multi-unit block (MUB) mortgages. Kensington’s buy-to-let rates now start from 5.19% for its five-year fixed rate, 5.29% for its three-year fix, and 5.59% for its two-year fixed rate, available up to 75% LTV with a 2% fee. The new rates also apply to limited companies.
Finally, Kensington is now offering new two and five-year fixed special rate buy-to-let products, all of which come with free valuations. This includes two-year fixed rates at 4.15% up to 70% LTV and 4.54% at 75% LTV, as well as a five-year fix at 4.49% for 75% LTV, all of which include a 5% fee. Kensington is also introducing a two-year fixed rate at 4.84% and a five-year fix at 5.09%, both at 75% LTV with a 3% fee.
For landlord clients with HMO or MUB mortgages, Kensington is introducing a five-year fixed special rate at 4.69% up to 75% LTV and a two-year fixed rate at 4.24% up to 70% LTV, both with a 5% fee.
Vicki Harris, chief commercial officer at Kensington Mortgages, commented: “This latest update to our product range highlights the increasing breadth of Kensington’s offering as we continue to look for ways to cater to the distinct needs of a wider range of borrowers. In combination with our unique approach to criteria development and our sophisticated underwriting capabilities, Kensington’s sustained commitment to product development will help us offer our services to a larger proportion of the market. Through continuing to respond quickly to market needs, such as by reducing rates and introducing no-fee options, we aim to provide greater support for our clients in realising their goals of property ownership.”
