Buy-to-let
The specialist mortgage lender has launched a market leading range of up to 90 per cent LTV mortgages from 5.69 per cent for the Right To Buy (RTB) sector, as part of its ‘Kensington Choices’ product range.
The range offers a choice of fixed or discount rates over one, two and three years.
The RTB option is available for a loading of 0.25 per cent added to the headline residential rates within the Simple Chosices and Extra Choices product sets.
Ian GIles, Director of Marketing, said: “Our Flexible Right To Buy range to 90 per cent LTV is another significant development for us and for specialist packagers and brokers. Since the introduction of RTB in 1980, around 2.2 million of UK properties have been sold by local authorities and, during the period 1999/2000 to 2003/04 RTB gross advances in England rose by 25 per cent on average per anum.”
The new addition also offers no Higher Lending Charge (HLC) on any products and no ERC overhangs on any two or three year products.
These developments are an indication of Kensington’s commitment to mortgage intermediaries and packagers, ensuring that its specialist lending products are innovative and competitive but also a reflection of Kensington’s commitment to tailoring mortgage solutions to meet the needs of consumers.
Giles said: “This is a stable, growing market and with the increase in the pre-emtion period from three to five years, one that many packagers and brokers are targeting for future growth.
“Remortgaging during this period is now a more realistic option for borrowers and these new rates give the perfect Easter excuse for brokers to contact their clients with specialist requirments in this market.”
