Kensington and New Street in full Scottish launch

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Kensington and New Street Mortgages have fully launched into Scotland following a pilot with L&G Mortgage Club.

New Street will exclusively sell buy-to-let while Kensington will offer residential and buy-to-let.

Kensington has also launched a range of products for its existing customers coming to the end of fixed rate terms.

Rates will be lower than the standard rate card offering and intermediaries will be paid a standard procuration fee.

In addition, Kensington has enhanced affordability criteria for both residential and buy to let customers.

Kensington Mortgages sales and marketing director Craig McKinlay says: “Like the rest of the UK, Scotland is home to a growing population of contractors, self-employed workers and entrepreneurs. However, the mortgage market has not kept pace with demand from these borrowers, who don’t fit High Street lending criteria.

“The potential for Kensington to expand our offering into Scotland was a natural step. We specialise in lending to the self-employed market and contractors and we’re confident that these areas are underserved.”

Speaking to Mortgage Strategy, McKinlay added that Northview would look to refresh its buy-to-let range in Q2 this year.

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