Kensington Mortgages has lowered rates across its Resi 12 and Resi 6 product ranges, enhancing its offering for clients with more complex credit files.
Kensington’s Resi 12 rates have been reduced by up to 1.08%, with two-year fixed rates now starting from 5.31% and five-year fixed rates from 5.36%, both with a £999 fee.
Resi 6 rates have been cut by up to 1.03%, with two and five-year fixed rates now starting from 5.61%, both also with a £999 fee.
The new rates are available for both purchase and remortgage customers at a maximum of 85% LTV, with both £999 and no fee options available. No fee options include a free valuation, with remortgage customers also eligible for free legals or £250 cashback.
Kensington’s Resi 12 and Resi 6 mortgages are Kensington’s product ranges for clients who have a more complex credit history and are subject to specific criteria.
Resi 12 clients can have a maximum of two unsecured credit arrears in the last twelve months – if accounts are now up to date – and are required to have had no defaults within the past twelve months and a maximum of one in the previous twenty-four months – of a maximum of £1,500. Clients also cannot have had a missed secured loan or rent payment in the last twelve months, and a maximum of one in the past twenty-four months.
Resi 6 clients are subject to no maximum of unsecured credit arrears – if there have been none in the previous six months and accounts are now up to date – and cannot have had a default within the past six months and a maximum of one in the last twenty-four months – of no more than £1,500. They cannot have had a missed secured loan or rent payment in the past three months, and a maximum of one in the last twenty-four months. Kensington’s Resi 6 range is not available to first-time buyers.
Andy Bickers, commercial director at Kensington Mortgages, commented: “At Kensington, we are committed to combining competitive pricing with market-leading service. These latest rate reductions across our Resi 12 and Resi 6 ranges demonstrate our ongoing focus on supporting customers with more complex credit histories, ensuring they have access to specialised, affordable financing solutions.
“With Kensington, every case is assessed by a dedicated, mandated underwriter who takes the time to understand the applicant’s full circumstances, rather than relying solely on automated processes. This approach allows us to look beyond the headline credit profile and make fair, informed decisions that reflect the real story behind each application.
“By pairing enhanced rates with our specialist expertise and personalised underwriting, we are continuing to offer clients with complex credit histories a clear path to homeownership.”
