L&G Mortgage Club offers Kensington 90% LTV deals

9 May 2011 | By Natalie Thomas

The deals include a two-year fixed rate a 90% LTV with a rate of 5.79% and a £999 arrangement fee for purchasers.

A first-time buyer two-year fixed rate deal at 5.99% with a £699 arrangement fee.

A three-year fixed rate purchase deal at 90% LTV at 6.19%, with a £999 arrangement fee and a three-year first-time buyer 90% LTV deal at 6.39% with a £699 arrangement fee.

Ben Thompson, managing director of Legal & General Mortgage Club, says: “The market, for understandable reasons over the last few years contracted and in the process became totally risk averse.

“Kensington have brought a new approach and some welcome competition to a flat market, most of all they are, in this example giving customers a much needed chance of stepping onto, or moving up the property ladder, without the need for an impossibly large deposit.”




Charles Morley, head of sales at Kensington, says: “Our research tells us that the market needs higher LTV products where responsible lending decisions can be supported by consistent, individual underwriting.

“Many first-time buyers do not have extensive credit histories because they have not managed a mortgage in the past. And if they have not used credit cards or taken other forms of credit this may impact their ability to pass a credit score and prove a barrier to securing a mortgage on their first home. 


“Kensington are different. We use an experienced team of underwriters alongside our technology, which means we are able to consider all of an applicant’s circumstances even if they do not have a significant file of historic activity with the credit rating agencies. We are really happy we can work with Legal & General Mortgage Club to bring this customer focussed underwriting approach to the 90% LTV market.”


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