The lender will now accept an unlimited number of properties up to £2 million, rather than up to 10 properties totaling £1 million.
Kensington has also launched a number of fixed rate deals, which cover near-prime and fee-free adverse remortgages.
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Ian Giles, director of marketing at Kensington, said: “There has been a lot of talk about recent Base Rate increases and the impact these are having on borrowers’ mortgage payments, but these exclusive deals from Kensington show that there are still great value products out there if you choose the right lender. With incentives and rates like these, not to mention the improved criteria for our BTL customers, we are showing another example of the shape of things to come at Kensington.”
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Fees free remortgaging is available on all three-year adverse fixed rates, with free valuations or a £200 allowance for applications submitted either directly to lender or via packagers respectively.
Its near-prime fixed rate products start at 5.55 per cent for three years and 5.60 per cent for two years and have a £1,995 completion fee.
Mike Fitzgerald, sales director at Brentchase Financial Services, said: “The market is there in BTL adverse and I don’t think Kensington is doing anything wrong as it is spreading the risk by saying you can only have two properties in one block. The market is still in its infancy and this looks like Kensington trying to establish itself there before other lenders do.”
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