The lender announced that they successfully surpassed this lending milestone following a surge in activity which accompanied the introduction of its Buy-to-Let Limited Company product and expansion of its Residential Lending product offerings, all of which have been implemented in the past six months.
Some recent changes at Kensington Mortgages have included Introducing Residential Select mortgages up to 95% LTV, and expansion of 90% LTV distribution to whole of market during September. Maximum loan values of up to £2 million on BTL and the introduction of top-slicing using personal and/or portfolio incomes to support affordability on BTL in July. And increasing the maximum residential loan sizes to £1m at 90% LTV in May.
The lending milestone also follows the recent announcement by Kensington’s parent company, The Northview Group, of the successful completion of its 13th securitisation deal which brings the total public issuance of notes to over £7.3 billion and reaffirms the Group as the most active UK issuer of residential securitisations, all since 2015.
Craig McKinlay, Sales & Marketing Director at Kensington Mortgages, commented: “At Kensington, our primary focus has always been to help Britain’s underserved borrowers, and this milestone proves that we are achieving that goal. This announcement is a culmination of the exciting product changes during 2018. It has once again demonstrated our commitment to the specialist lending market, as we reach out to a wider customer base and provide more flexibility for Buy-to-Let landlords.
These latest changes have been received very positively by our intermediary partners, and we’re excited to announce that we will be making even more enhancements to our product range over the coming weeks.”
