Kensington introduces 95% LTV deal in product shake-up

Kensington Mortgages has announced changes across its range of residential and buy-to-let mortgages alongside the introduction of a new 95 per cent LTV residential mortgage.

The new “Residential Select” mortgage will be available in two-year and five-year flavours, with rates for the former starting at 4.64 per cent.

Meanwhile, product changes include fixed term rates within the BTL products receiving cuts of up to 20 per cent and the fact that five-year rates will feature individual low reversion margins.

Additionally, the 90 per cent LTV residential range will soon be available to all KMC-registered brokers.

The changes will take effect from Wednesday 12 September.

The specialist lender joins a series of other firms that have recently targeted the first-time buyer market, including M&S Bank, Teachers Building Society and Newcastle Intermediaries.

Kensington Mortgages sales and marketing director Craig McKinaly says: “Buying a home is an ambition for thousands of people across the UK, but in many cases the first or next step can be hindered by the challenge of saving for a bigger deposit.

“These latest updates further reinforce our commitment to supporting underserved borrowers across the UK, a mission has always been at the heart of Kensington, by improving the options to individuals looking to step onto or up the housing ladder.”

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