Investec-owned specialist lender Kensington has launched a new range with lower rates and higher LTVs.
The new products will be available to appointed representatives of Legal and General, Openwork, Pink Home Loans, and Personal Touch Financial Services, which has just been added onto Kensington’s exclusive distribution list.
The new prime products are available up to 80% LTV, with two-year fixed rates from 4.99%. Kensington has also cut the completion fee on all of its products to £999. The two year fixes are priced at 4.99% up to 75% LTV and 5.69% up to 80% LTV. The three year fixes are priced at 5.39% up to 75% LTV and 6.09% up to 80% LTV.
Charles Morley, head of sales and product development at Kensington, said: “We know there are a lot of prime customers out there who want a mortgage but are excluded by the big lenders because they fail an automated decision. So we make a decision based on a customer not a credit score. This means we are well positioned to consider self-employed borrowers