"The new offering aims to ensure that customers can access the right product for their specific needs and that they are not forced into a higher LTV when making their purchase"
- Vicki Harris, chief commercial officer at Kensington
Kensington Mortgages has announced the launch of a ‘Mid LTV’ residential product range. The products are designed to provide better rates for customers who sit within the traditional 5% incremental LTV brackets.
Kensington is adding 82.5%, 87.5%, and 92.5% LTVs to its existing high LTV options of 80%, 85%, 90%, and 95%. The new products will be available to customers who meet Kensington’s Select criteria.
Kensington’s two-year 82.5% LTV offers a 6.27% rate with a £999 fee or a 6.52% rate with a free valuation and free legals or £250 cashback for remortgage customers.
Kensington’s five-year 82.5% LTV starts at 6.07% with a £999 fee or 6.17% with a free valuation or free legals/£250 cashback for remortgage.
Similarly, Kensington has launched two-year 87.5% LTV products at 6.74% or 6.99%, with five-year rates available at 6.47% and 6.62%.
Kensington’s two-year 92.5% LTV, which is for purchase customers only, is available at 7.24% with a free valuation and £999 fee or 7.47% with a free valuation and no fee. The five-year product offers a 6.79% rate with a £999 fee and free valuation or a 6.99% rate with no fee and free valuation.
Vicki Harris, chief commercial officer at Kensington Mortgages, commented: “The launch of our Mid LTV range speaks to Kensington’s commitment to continuing to innovate, making brokers’ lives easier, and helping more people to own their home.
"The new offering aims to ensure that customers can access the right product for their specific needs and that they are not forced into a higher LTV when making their purchase, so they effectively only pay for what they need.”
