Kensington has doubled its maximum loan size to £1 million and its maximum loan for first-time buyers to £500,000.
First time buyers are now able to borrow up to £500,000 up to 90 per cent. A maximum loan size of £1 million is available to subsequent purchasers and remortgage customers up to 75 per cent LTV, with the maximum loan above 75 per cent LTV being £500,000
Charles Morley, head of sales at Kensington, says: “While many lenders offer loans up to £1 million, we know that intermediaries are crying out for a lender that can take an intelligent approach to lending at this level.
“The income of high earners is rarely simple and often made up of commission, bonus or investment income. A one-size-fits- all approach does not suit these customers, but Kensington’s commitment to individually assessed underwriting means we can consider customers whose circumstances would be too complex for other lenders.”
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