Kensington pulls 85% BTL and 90% residential deals

Kensington is pulling its 85% LTV buy-to-let deals and its 90% LTV residential mortgages tonight.

The lender says it has had a bumper August and is nearing the end of its current tranches.

A spokesman for Kensington, says: “Kensington had a record breaking month in August, lending more than in any other month since our return to the intermediary mortgage market in 2009 and continuing the strong growth we have seen in 2011.

“As a consequence, we are nearing the end of current tranches on certain products and, in order to maintain consistency of service for our intermediaries, we are temporarily withdrawing  these products from our range.

“We are already working on new products with great rates and criteria that we expect to launch shortly.”

Kensington increased its LTV to 85% from 75% in February and launched its 90% LTV deals in May.

It will still offer 80% LTV on its buy-to-let deals and 85% LTV on its residential range.