The adverse range includes near prime products which allow up to 500 in County Court judgements, through to high adverse which accept unlimited CCJs and arrears.
Fixed rates start from 5.54% and there are no overhanging early repayment charges or higher lending charges on any products. Income multiples have also been increased to up to 4.25 x single income plus 1 x additional income, or 3.5 x joint income.
Ian Giles, director of marketing at Kensington, says: “These products are priced competitively, combine the best elements of both ranges and offer the simplicity of one range to brokers.”
David Mead, director of Flexible Mortgages, says: “Anything that simplifies the sub-prime market is good. Lenders have hundreds of deals with an infinite amount of nuances, so this will make brokers’ lives easier.”