This aims to leave them with some of the most competitive fixed rates in the market. Kensington has also increased the 1-Year
discount rate to 2.00% p.a. on all products excluding Near Prime.
These developments are yet again, another indication of Kensington’s commitment to its intermediaries to continue to be one of the most competitive specialist mortgage lenders in
the market.
The new rates are presented as follows:
Near Prime range
- 2-year fixed rates from 5.30%
- 3-year fixed rates from 5.20%
- 1-year discount rates from 3.95%
Very Light Adverse range
- 2-year fixed rates from 5.50%
- 3-year fixed rates from 5.40%
- 1-year discount rates from 4.50%
All fixed products with no extended tie-ins.
In addition, borrowers can benefit from Kensington’s no up-front fees offer:
- No Higher Lending charges (HLCs) on any Kensington mortgage
- Free valuations on all applications (up to a maximum property value of £500,000;
£250 cashback in Scotland), and
- £400 cashback on the High Adverse range (£500 cashback in Scotland)
To gain a greater insight into the issue of Higher Lending Charges (HLCs), Kensington encourages intermediaries to use the newly launched ‘True Cost Calculator’ as an aid to determine the true cost of a mortgage and accurately compare the rates of different mortgage providers.
Ian Giles, marketing director for Kensington Mortgages said: ‘At this time of year many consumers are seeking to consolidate their financial debts and are looking for the best deals available. With uncertainty around interest rate movements, we have responded by reducing our fixed rates to provide introducers with an even more competitive product range. This improved range, combined with our track record in service excellence allows
them to confidently recommend Kensington and pass certainty and peace of mind to their customer.’
These new product rates are detailed in Kensington’s Product Matrix and are available for Brokers to use direct through the Kensington website www.kmc.co.uk or through a packager.
