Kensington Mortgages announces BTL changes

Specialist lender Kensington Mortgages has announced changes to its buy-to-let mortgage range, which it says will offer landlords greater flexibility.

These changes include loans of up to 75 per cent LTV for HMOs and MUBs of up to £1m with no minimum overall property value required.

The lender will also offer 65 per cent LTV two-year rates at 2.89 per cent for HMOs and MUBs of up to six units. Furthermore, the 70 per cent LTV two-year BTL mortgage with a maximum loan of £2m now comes in at 2.69 per cent.

The lending criteria has also had a makeover, with the addition of ‘top-slicing’, which allows for income to be considered in affordability assessments, with rental cover from 125 per cent. Applications from non-owner occupier and first-time buyers where one person is earning £40,000 or more will now also be accepted, and the maximum age has been increased to 70.

Kensington Mortgages sales and marketing director Craig McKinlay says: “This latest upgrade is part of our long-term strategy of enhancing Kensington’s BTL proposition and supporting Landlords across England, Wales and Scotland.”



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