Kensington increases maximum loan for prime

Kensington has increased the maximum loan size for its prime customers to £500,000 in a series of product changes.

The increase applies to prime customers with no defaults in the last two years but who may have been overlooked by a high street lender.

And there are new deals for customers with minor unsecured defaults or County Court judgements in the past two years but are now up to date.

They include the maximum LTV increased to 75% with a two  year fix at 6.29% and a three year fix at 6.69%.

And rates have been cut at 70% LTV with a two year fix at 5.89% and three year deal at 6.29%.

Charles Morley, Head of Sales and Product Development at Kensington, says: “We are in constant dialogue with our distribution partners and intermediaries, which means we are aware just how much demand there is from borrowers who have been overlooked by the high street. These enhancements to the criteria on our residential products will help even more of those customers who have been left out in the cold by mainstream lenders, find a mortgage to suit their circumstances.”