Kensington launches new credit recovery range and reintroduces 95% LTV products

Kensington Mortgages has announced a range of updates across its residential and buy-to-let offering, including the launch of a new credit recovery range, expanding its green product range to buy-to-let, and the re-launch of 95% LTV residential products.

Related topics:  Mortgages
Rozi Jones
27th July 2021
Craig McKinlay Northview Group
"We’re excited to announce several new product changes to enhance our offering, especially Resi 6, our new credit recovery range."

Kensington’s new Resi 6 Range provides mortgages to those who have had a credit blip more than six months ago. The range offers two and five-year fixes up to 85% LTV with rates starting at 4.49%. Products are available for purchase or remortgage with free valuations and legals available on certain LTVs and a maximum loan size of £500,000.

Kensington has also relaunched its 95% LTV residential range, with rates starting at 5.19% for a two-year fix.

Additionally, Kensington has expanded its green eKo mortgage offering to buy-to-let. Landlords can access a £1,000 cashback product for improving the energy efficiency of any existing housing stock within the first 12 months of ownership. Alternatively, landlords can take advantage of a £500 reward, paid upon completion, when purchasing a new build property with an EPC rating of A or B.

Other updates include reduced rates, both on Kensington’s residential Select range at 90% LTV (now at 4.69%) and large loan offering, starting from 3.34% at 75% LTV for loans between £500k to £2 million.

Craig McKinlay, new business director at Kensington Mortgages, commented: “We’re excited to announce several new product changes to enhance our offering, especially Resi 6, our new credit recovery range. The pandemic has put an unprecedented strain on everyone, particularly the self-employed and small business owners, and many have experienced a bump in the road. Lenders shouldn’t use this blip against individuals though, and instead help those who have struggled over the last year with flexible and innovative solutions.

“Our expanded eKo mortgage range to buy-to-let also opens our cashback product to reward landlords too and strengthens Kensington’s position in the green mortgage space even further. Kensington is committed to bringing industry-leading products to market, and we hope our new changes provide our brokers with even more choice.”

 

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