Kensington revamps B2L range

Specialist lender Kensington has cut rates by up to 0.5 per cent across its buy-to-let product range, available to first time and experienced landlords.

The firm is also reducing its completion fee by 50 basis points to 2 per cent and will now offer borrowers a choice between this or a flat completion fee of £1,999.

 There are no minimum income requirements or a portfolio limit for experienced landlords and loans are available up to £1m.

The two year fixed mortgage up to 70 per cent loan-to-value has dropped 25 basis points to 4.14 per cent for borrowers choosing to pay the 2 per cent completion fee. A three year option is available at 4.29 per cent.

The 75 per cent loan-to-value option starts at 4.34 per cent, reduced by 0.35 per cent, while the three year option is down from 4.94 per cent to 4.54 per cent.

There is a two year 80 per cent loan offered at 5.24 per cent over two years, reduced from 5.74 per cent. Only the 2 per cent completion fee applies for this product.

Kensington head of distribution Charles Morley says, “This month we have seen, for the first time in years, house prices increasing in every region of the country, which is good news for property investors.”

 “Not only have we cut our rates and completion fee, we are also offering intermediaries greater choice for their clients.”