Kensington is expanding its distribution and offering its products to all directly authorised brokers.
The lender’s products are now open to all directly authorised brokers who transact through PMS or one of its network partners. The products are already available to appointed representatives of its network partners.
Kensington also announced that it will no longer be accepting postal applications from this Friday.
The decision coincides with the launch of its E-KWIP online application system. The new system means the booking of funds will take place automatically on receipt of a full mortgage application.
To mark its launch, Kensington has cut rates on its residential and buy-to-let products by up to 0.25%.
It is now offering a two-year fixed rate at 5.44% and a three-year fixed rate at 5.84% up to 80% LTV.
The lender has also cut rates on its 75% LTV fixed rate and buy-to-let deals.
Jonathan Cornell, head of communications at First Action Finance, says: “Scrapping postal applications will bring it in line with other lenders and make things easier for brokers. Most applica-tions are submitted online as it is easier, with the exception of a few complex cases that brokers will still post.”
Charles Morley, head of sales and product development at Ken-sington, says: “We are always looking for opportunities to improve our proposition for intermediaries, whether in product development, reviewing prices or streamlining our processes. E-KWIP is a great example of technology being used alongside human expertise to benefit brokers and their clients.”
He says scrapping postal applications will not detract from its commitment to underwrite each case on its merits.
He adds: “We will continue to champion the cause of customers who are overlooked by the high street.”