Kensington launches fees free deals

Kensington has launched two exclusive deals offering fee-free remortgages and fixed rates from 5.55%.

The fee-free remortgage package is available on all three-year fixed rate sub-prime applications submitted both direct to Kensington and through selected distributors.

It carries a 0.35% loading , with no completion fee, no arrangement fee, no legal fees on properties in England and Wales and no higher lending charge.

While Kensington is also continuing to offer free valuations on all direct business and a £200 incentive allowance to enable packagers to provide their customers with free valuations.

Also available through selected distributors is the K1995 exclusive which offers three-year fixed rates from 5.55% and two-year fixed deals from 5.60%.

These products are available on near prime and near prime max and have a £1995 completion fee, which can be added to the loan above the maximum LTV.

As well as these exclusives, Kensington has also increases its sub-prime buy-to-let portfolio limit from 10 properties totalling £1m to unlimited properties totalling £2m.

Ian Giles, director of marketing at Kensington, says: “There has been a lot of talk about recent base rate increases by the Bank of England and the impact these are having on borrowers’ mortgage payments, but these exclusive deals from Kensington show that there are still great value products out there if you choose the right lender.

“With great incentives and low rates like these, not to mention the improved criteria for our buy-to-let customers, we are showing another example of the shape of things to come at Kensington.”