Priced at 5.92% up to 85% loan-to-value (LTV), the Near Prime 500 is a three-year fixed rate for self-cert customers, with up to £500 of CCJs and defaults ignored. There is no Higher Lending Charge on the deal, which is also available up to 90% LTV for 6.09%. And the product is available to a maximum loan of £500,000 up to 85% LTV, and £300,000 up to 90% LTV.
Keith Street, director of sales at Kensington Mortgages, said: “In a rising interest rate environment more borrowers are looking for the certainty of a fixed rate, and we don’t think they should have to pay through the nose for the privilege. This is a great self-cert deal with a headline rate of 5.92% that will make people sit up and take notice. What’s more, it comes with no Higher Lending Charge, allows up to £500 of CCJs and ignores defaults. We expect demand to be high and look forward to working with Mortgage 2000 to ensure our customers don’t just receive a great deal, but outstanding service as well.”
Nikki Haworth, corporate partnerships manager at Mortgage 2000, said: “We are constantly looking for the best deals for our intermediaries and are delighted to be working closely with Kensington to achieve this. At this price this product is going to fly off the shelves so intermediaries will need to get their applications in quickly.”
