Kensington Mortgages made made a series of changes across its residential and buy-to-let range.
Revisions include the launch of a new credit recovery range, Resi 6, expanding its eKo product range to buy-to-let, and the re-launch of 95% LTV.
Kensington’s new Resi 6 Range is aimed at those who may have suffered financially during the pandemic and had a credit blip, as long it was more than six months ago. The range offers two and five-year fixes and rates start at 4.49%, up to 85% LTV with free valuations and legals (available on certain LTVs) and a maximum loan size of £500k. Resi 6 is available on both purchases and remortgage.
Its 95% LTV residential range has also been relaunched, with rates starting at 5.19% for a two-year fix.
Kensington has also expanded its green eKo mortgage offering to buy-to-let. Landlords can now get involved, with a £1,000 cashback product for improving the energy efficiency of any existing housing stock within the first 12 months of ownership.
Alternatively, landlords can take advantage of a £500 reward, paid upon completion, when purchasing a new build property with an EPC rating of A or B.Other updates include reduced rates, both on Kensington’s residential Select range at 90% LTV (now at 4.69%) and large loan offering, starting from 3.34% at 75% LTV for loans between £500k to £2 million.
Craig McKinlay, new business director at Kensington Mortgages, said: “We’re excited to announce several new product changes to enhance our offering, especially Resi 6, our new Credit Recovery Range. The pandemic has put an unprecedented strain on everyone, particularly the self-employed and small business owners, and many have experienced a bump in the road. Lenders shouldn’t use this blip against individuals though, and instead help those who have struggled over the last year with flexible and innovative solutions.
“Our expanded eKo mortgage range to buy-to-let also opens our cashback product to reward landlords too and strengthens Kensington’s position in the green mortgage space even further. Kensington is committed to bringing industry-leading products to market, and we hope our new changes provide our brokers with even more choice.”
