Kensington Mortgages has reducing the rates on buy-to-let products carrying a percentage fee by 25 basis points and cutting the cost of its fixed completion fee from £1999 to £999.
The lender’s buy-to-let deals are now available from 3.74% for a two-year fixed rate up to 70% LTV, with a 2.00% completion fee. At this LTV a £999 fee is also available, with fixed rates from 4.24%.
Kensington is also offering a full range of options at 80% LTV, with a two-year fixed rate available at 4.49% with a 2.00% completion fee. At 80% LTV, a £999 fee is also available, with fixed rates from 4.99%.
Steve Griffiths, head of sales and distribution at Kensington, said: “We see opportunity in the buy-to-let market for mortgages up to 80% LTV, particularly as we don’t require a minimum income for existing landlords. These changes are a significant move in making brokers sit up and look at Kensington again for their buy-to-let clients.
“The changes to our buy-to-let product range are all part of Kensington’s growth plans and we look forward to launching a number of further product developments in the near future.”
