Kensington cuts B2L rates by up to 25bps

Mortgage-House-Coins-Wallet-House-700x450.jpg

Kensington Mortgages is cutting its buy-to-let rates by up to 25 basis points and its fixed completion fee from £1999 to £999.

The lender’s buy-to-let rates now start at 3.74 per cent for a two-year fixed rate up to 70 per cent LTV, with a 2 per cent completion fee.

At this LTV a £999 fee is also available, with fixed rates from 4.24 per cent.

Kensington is also offering a £999 fee at 80 per cent LTV on two-year fixes from 4.99 per cent.

Kensington head of sales and distribution Steve Griffiths says: “We see opportunity in the buy-to-let market for mortgages up to 80 per cent LTV, particularly as we don’t require a minimum income for existing landlords.

“These changes are a significant move in making brokers sit up and look at Kensington again for their buy-to-let clients.”