The products include a 2 year tracker at 7.49% (BBR + 2.49%) and a 3 year fixed rate at 7.39%. The LTV is 90%; the fee for the mortgage is £1999; and there is a 5% early repayment fee is the mortgage is redeemed during the fixed/tracker period. The broker proc fee is 0.4%.
Gemma Harle, managing director at Mortgage Next, said: “We’re delighted to be adding these two Kensington products to our portfolio at a time when many lenders are withdrawing products and increasing rates. I’m sure brokers will see them as welcome additions to their product offering.”
