Your guide to Kensington for intermediaries

Working with mortgage lenders like Kensington for intermediaries can be beneficial for you and your clients. Know more about their products and services here

By Kath Villamayor

18 Nov 2024

Contents

Introduction to Kensington for intermediaries
What Kensington can do for intermediaries
Products and services offered by Kensington for intermediaries
Eligibility criteria of Kensington for intermediaries
Choosing Kensington for intermediaries’ home loans for your clients

When entering into a mortgage negotiation, it is recommended that clients engage the services of a mortgage broker or an intermediary. These home loan professionals are well-informed about the mortgage industry and will vouch for their clients’ interests when bargaining for competitive mortgage products. They also partner with competent banks and mortgage companies to get the best deals for their clients.

If you belong in the mortgage broking business, working with home loan providers such as Kensington for intermediaries is a great way to upscale your brand. Trusted mortgage lenders like Kensington can provide a variety of services to help you find what your clients are looking for. They also have an online platform exclusively for intermediaries. This can speed up the mortgage application process as you can see all that is required when applying for a mortgage with them.

In this article, Mortgage Introducer will discuss all that you need to know about Kensington for intermediaries. We will talk about how this mortgage lender can help mortgage brokers and their clients in securing the right property loan. We will also cover their broad range of mortgage products to help you compare the best ones for your client’s needs. Read on to discover whether Kensington Mortgages is suitable for your clients’ unique circumstances and goals.

Introduction to Kensington for intermediaries

Kensington Mortgages is the trading name of Kensington Mortgage Company Limited. It is registered in England and Wales with its office located at Ascot House, Maidenhead Office Park. This private limited company is authorised and regulated by the Financial Conduct Authority (FCA).

What Kensington can do for intermediaries

Kensington for intermediaries is bent on helping intermediaries find the best mortgage selections for their clients. When you go to their exclusive website dedicated to mortgage brokers, you will be greeted by Kensington’s Lending Criteria Digital Assistant. It is an assistive webchat where intermediaries can be aided directly if they are looking to discuss Kensington Mortgages’ Residential or Buy to Let home loans. If you wish to talk to someone from Kensington for intermediaries, you can also request that option via the same digital assistant.

Kensington Mortgages also has other tools and resources such as:

affordability calculators
find your BDM option
free webinars

Let us further discuss these tools from Kensington below:

Affordability calculators

You can use Kensington for intermediaries’ affordability calculators to find out how much your clients can borrow. They have two options:

Buy to Let calculator

Use Kensington Mortgages’ Buy to Let calculator to see the maximum loan amount that you can apply for portfolio landlord clients.

Residential calculator

If your clients want to buy a property to use it as their primary residence, check out Kensington for intermediaries’ Residential calculator. With this tool, you can know their loan limits for residential properties.

Here is a video on how to how to calculate your clients’ mortgage affordability using a calculator:

Most of the UK’s top mortgage intermediaries partner with Kensington Mortgages, and they benefit from these useful tools.

Find your BDM option

If you want to contact a business development manager (BDM) from Kensington for intermediaries, just go to their Find your BDM page. They can help you with any questions, from mortgage application to their underwriting process and decision-making.

Kensington’s BDMs will also help you navigate the selection of mortgage products that they offer. Want to know the requirements when applying for a property loan with this lender? Just contact a BDM through their online portal.

Free webinars

Kensington for intermediaries also has webinars which you can watch for free. You can access them both on their intermediary-only website and on YouTube.

Curious to know what topics Kensington Mortgages discuss on their free webinars? Check out this video where Kensington and Barclays members explain the inner workings of the mortgage industry:

In 2023, Barclays Bank UK acquired Kensington Mortgages. However, Kensington remains as a specialist mortgage lender while being a part of Barclays. This acquisition has allowed Barclays to become one of the few banking giants with specialist mortgage offerings.

We also have a guide to Barclays for intermediaries for interested brokers.

Data-driven approach

Aside from these tools, you can leverage Kensington for intermediaries’ data-driven approach to assessing and managing mortgage credit risk. Whether you have years of experience or are just starting your journey, this mortgage lender can support you in reaching your goals through data analysis and interpretation. They have an in-house analytical tool called Vector.

Products and services offered by Kensington for intermediaries

Here are Kensington Mortgages’ flagship property loans that your clients might be interested in:

Low deposit mortgages (for Residential properties)

Do you have clients who are first-time home buyers? Are they looking for properties with small deposit amounts? This mortgage option from Kensington for intermediaries is perfect for them. They offer a 95% loan-to-value (LTV) ratio for up to £500,000 and accept the Help to Buy Wales option. Kensington Mortgages will also consider those with a limited credit history to those with none. Other perks include:

free valuation included for up to 90% LTV ratio
gifted deposits from immediate family members accepted
self-employed affordability based on latest years accounts

Large Portfolio mortgages (for Buy to Let properties)

Do you have clients who are landlords and real estate investors? What about those who want to increase their Buy to Let property portfolio? Kensington for intermediaries offers their Large Portfolio mortgages for these types of property loan borrowers.

This mortgage solution doesn’t require minimum incomes nor property portfolio limits for existing landlords. A business plan won’t also be necessary. Kensington for intermediaries can lend up to £2 million for their Large Portfolio mortgages.

Green Mortgages

Kensington for intermediaries offers a green mortgage option called eKo £500 Reward Mortgage. This comes with up to 90% LTV ratio and £500 cashback paid after completion. Kensington’s eKo £500 Reward Mortgage is suitable for home loan applicants who want to buy properties with high Energy Performance Certificate (EPC) ratings. The property in question should have a rating of A or B for energy efficiency.

You can compare UK’s Green Mortgage rates to help guide your clients in getting a green mortgage. Check back or favourite this page for weekly updates.

Eligibility criteria of Kensington for intermediaries

Check out these requirements set by Kensington for intermediaries to see if your clients can secure a mortgage with them:

age
loan amount
bank statements
foreign nationals

Let us explore each criterion below:

1. Age

For residential mortgage applications, the minimum age is 18 years old at the time of application. Meanwhile, the maximum age is 75 years old at the end of the mortgage term. If your clients request the mortgage term to end beyond 70 to 75 years old, Kensington Mortgages will only accept repayment mortgages.

On the other hand, at least one property loan borrower must be 21 years old to secure a Buy to Let mortgage. For all other mortgage applicants, the minimum age is 18 years old. For limited companies, all directors are required to be at least 21 years old.

There is no maximum age requirement for Buy to Let mortgages. However, in case a Buy to Let top-up scheme is used, Kensington Mortgages will impose a maximum age of 70 years old.

2. Loan amount

The minimum loan amount for Kensington Mortgages’ Residential and Buy to Let home loans is £25,000. Here are the maximum loan amounts for their residential mortgages:

Select mortgages: £1.5 million
Select Large Loans mortgages: £2 million
Hero and Core mortgages: £500,000
Right to Buy mortgages: £500,000
Resi 12 and Resi 6 mortgages: £500,000
For first-time buyers and professionals: £1 million
For home loans with 90% LTV ratio: £1 million
For home loans with 95% LTV ratio: £500,000

Finally, the maximum loan amount for borrowers living in Northern Ireland is £500,000 with a maximum LTV ratio of 80%.

As for their Buy to Let options, the maximum loan amount is £750,000, except for mortgage applicants from Northern Ireland which is £500,000.

3. Bank statements

This requirement is only for Kensington’s Residential mortgages. Kensington for intermediaries will ask your clients to submit their bank statements. Your client’s name and address must be included in these documents. They can generate their bank statements through online banking application.

Here are three reasons why Kensington for intermediaries will ask for your clients’ bank statements:

to prove child maintenance payments
to prove the build-up of deposit funds over time
to prove that the applicants are self-employed or contractors

4. Foreign nationals

For foreign nationals who want to apply for either a Residential or Buy to Let mortgage with Kensington for intermediaries, they need to have:

at least two years residency in the UK
confirmation that they have the legal right to reside in the UK indefinitely; they have settled or pre-settled status

Choosing Kensington for intermediaries’ home loans for your clients

Applying for Kensington Mortgages’ home loans can help your clients achieve their homeownership dream. Based on their easy-access online platform, you have all the tools you need to search for the best mortgage type.

Kensington for intermediaries is committed to helping home buyers and property investors, and they have over 25 years of service to back that claim. This mortgage lender is also dedicated to assisting those with complex cases. With this, it is valuable to build a strong relationship with Kensington Mortgages. Such a connection can be your leverage for prospects with unique mortgage needs.

So, all these and other perks are some of the many reasons why choosing Kensington for intermediaries’ home loans is a good idea. But there are other mortgage lenders that follow an intermediary-centric approach when it comes to offering mortgages. You can check out these home loan providers to see if they suit your clients’ needs better:

What do you think about this guide to Kensington for intermediaries? Do you find it helpful? Feel free to share what your comments below.

Your guide to Kensington for intermediaries

Introduction to Kensington for intermediaries