It also adds a new three-year fixed rate option to the range
Specialist lender Kensington Mortgages has introduced enhancements to its large loan offering, designed to provide customers with more flexible borrowing options.
The lender is offering large loans ranging from £500,000 up to £2 million and has also launched a new three-year fixed option, adding to its existing two and five-year fixed rate products.
Kensington said all loans are available for purchase and remortgage and come with a free valuation.
Rates are up to 20 basis points lower than the lender’s Select rates, ranging from 5.89% to 6.89%. For its large loan range, Kensington Mortgages – acquired by banking giant Barclays last year – has also introduced set fees of either £1,499 or £1,999.
“By enhancing the criteria of our large loan offering and expanding our product range, Kensington is aiming to provide a greater number of options for brokers when supporting their residential clients,” stated Vicki Harris (pictured), chief commercial officer at Kensington Mortgages.
“We’ve also introduced set fees to make work easier for our intermediary partners and to simplify the borrowing process for customers. The refinement of our offering furthers Kensington’s goal of meeting the diverse needs of borrowers and providing an inclusive offering in a complex mortgage market.”
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