It implements rate reductions of up to 55bps
Kensington Mortgages has announced reductions in rates and arrangement fees for certain 90% and 95% loan-to-value (LTV) mortgage products.
The specialist lender has cut rates by up to 55 basis points (bps) on its 90% LTV products, which include the Select, Professional, Heroes, eKo, and Core ranges. In addition, Kensington has lowered the arrangement fees for all 90% LTV products from £1,299 to £999.
The new lowest rates for its Select 90% LTV two-, three-, and five-year fixed rate mortgages are now 6.89%, 6.59%, and 6.44% respectively, each carrying a £999 fee. The rates for Kensington’s Hero Mortgage range are consistently 10bps lower than those of its Select range.
The lender has also revised rates downwards by up to 35bps on selected 95% LTV products and reduced their arrangement fees from £1,299 to £999. The lowest rates for the Select 95% LTV two-, three-, and five-year fixed rates have been adjusted to 7.39%, 7.09%, and 6.94%, respectively, with each rate including a £999 fee.
In addition, Kensington offers a free valuation for all its 95% LTV products, covering both fee-paying and fee-free options.
“Our decision to lower rates for selected 90% and 95% LTV products highlights our sustained commitment to meeting the needs of our customers as market conditions continue to evolve,” said Vicki Harris (pictured), chief commercial officer at Kensington Mortgages. “Our products provide some of the most competitive rates in the specialist market, which are supported by leading standards of customer service.”
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