The range is available to customers who have not incurred CCJs, Defaults or Mortgage Arrears within the last 36 months.
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 has also cut existing residential rates on several five-year fixed rate mortgages by up to 0.3%, with Kensington’s 75% LTV 5-year fixed rate mortgage 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, commented: “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.”
