Kensington Mortgages has unveiled a new Select mortgage range, with rates starting from 2.39% for a 75% LTV two-year fixed rate mortgage. It comes with a £999 completion fee.
The range is available to customers who have not incurred CCJs, defaults or mortgage arrears within the last 36 months. It goes live on 16 May.
Products are offered at 75% and 85% LTVs and cover two, three and five-year fixed rate mortgages. Select also includes the option of a no completion fee and free valuation offer, as well as free legals for remortgages.
The lender, which is part of the Northview Group, has also cut existing residential rates on several five-year fixed rate mortgages by up to 30 basis points, with Kensington’s 75% LTV five-year fixed rate mortgage (no completion fee) now available from 3.89%.
Kensington has also launched a new online affordability calculator for buy-to-let customers. The calculator aims to show customers the maximum amount they can expect to borrow based on their circumstances.
The range includes five-year fixed rates which will use an assessment rate of 5% for affordability. Brokers can enter their customer’s personal, property and income details to retrieve a bespoke calculation and will allow joint applicants to declare their individual share of the purchase.
Steve Griffiths, sales and distribution director at the Northview Group, said: “At Kensington, we have always aimed to deliver individual solutions, no matter if you are buying a home to live in or a property as an investment.
“Our launch of the new Select range of residential mortgages at rates starting from just 2.39% and the revamp of our buy-to-let calculator that will deliver bespoke ICRs based on customer’s individual circumstances, is a clear demonstration of our continued commitment to develop tailored solutions.”