Kensington Mortgages today announced interest rate reductions on its Young Professional, Large Loan, Select, Select Premier (large loan) and Hero mortgage products amongst others.
Rates are being reduced by up to 40 basis points across these key products.
For Kensington’s Select product range, interest rates now start at 2.49% for a 2-year fixed product at 75% LTV. For Young Professionals, rates now start at 2.69% for a 2-year fixed product, 2.99% for 3-year fixed, and 3.39% for 5-year fixed, all at 75% LTV.
Kensington’s Hero product range rates now start at 2.54% for 2-year fixed and 3.24% for 5-year fixed at 75% LTV.
Reduced rates are also available for Kensington’s Select Premier mortgage range for loans up to £2million. Available in a 1, 2 and 5-year fixed product, rates start at 2.64% for 1 year-fixed at 75% LTV.
New rates have also been announced for Kensington’s Select range for its 5-year fixed products. Charges start at 3.24% for 75% LTV, 3.39% for 80% LTV and 3.69% for 85% LTV.
Craig McKinlay, New Business Director said:
“Offering great value and competitive rates is our core focus at Kensington. Building on the success of our recent Heroes and Young Professionals launches, we’re reducing our rates across a number of our Residential Mortgages to reflect the quality of our customers and to support our intermediary partners. These rate reductions further demonstrate our commitment to helping underserved borrowers across the country, such as those with complex incomes who don’t normally tick all the boxes at the traditional high street lenders, buy their own home.”