The loading for self-cert products on Kensington’s Simple Choices range has been cut by a quarter from 0.4 per cent to 0.3 per cent for minor, light and very light borrowers. The loading for self-cert customers borrowing up to 90 per cent loan-to-value (LTV) on the Extra Choices range has been cut from 0.50 per cent to 0.25 per cent.
Other reduced prices on its other products, include:
Simple Choices
Three-year fixed rates cut by up to 0.25 per cent, starting from 6.04 per cent at 90 per cent LTV
Three-year discounts reduced up to 0.25 per cent and start from 5.64 per cent
Extra Choices
Fixed rates cut by up to 0.30 per cent, two-year fixed rates start at 5.64 per cent and three-year fixed rates from 5.54 per cent
Other fixed and discount changes include unlimited adverse two-year discounts from 6.35 per cent
Ian Giles, director of marketing at Kensington Mortgages, said: “Britain’s borrowers are basking in the sun this summer and we want to give them something else to smile about with these hot new rates. We are particularly happy to help the growing band of self-employed and contract workers who need a mortgage and are unable to obtain one from high street lenders. Specialist lenders are well-placed to provide solutions for customers with more individual needs, and they are also well placed to change the price of products to help their borrowers as and when they can. It is also satisfying that Kensington can beat many competitors’ prices without imposing a higher lending charge (HLC), something that many of our rivals continue to burden their borrowers with.”
