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 Optoma Broker Solutions to ensure our customers don’t just receive a great deal, but outstanding service as well.”
Chris Smith, new business manager at Optoma Broker Solutions, commented: “This is a fantastic opportunity for borrowers to secure a good deal while other lenders rates are heading north. Kensington have always provided Optoma with quality exclusives and with the strength of these rates we are expecting a lot of uptake”.
