The lender offers a two-year discount of 4.90 per cent and a three-year discount of 5.74 per cent, as well as a range of fixed rate, all with no overhanging early repayment charges, no higher lending charges and a flexible features option.
Ian Giles, Director of Marketing at Kensington, said: If the borrower can accept some increases in the rate, a discount is a good option right now. With the margin between fixes and discounts of similar periods increasing to around 0.50 per cent in some cases, Id expect to see more opting for the lower rates offered on variable deals.
After all, there would have to be two base rate increases of 0.25 per cent before the discount would be the same rate as the fixed and the borrower will have enjoyed the benefit of the cheaper rate in the meantime.
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