Your questions answered

Find everything you need to manage your mortgage, all in one place. Look for support, guidance or the answer to your questions; or use our handy tools such as our mortgage glossary and calculators.

Let us know if there is a particular subject you would like to see covered or get in touch if you need help from one of our team.

Quick answers to common questions

Mortgage
glossary

Mortgage terms can be confusing if you’ve never had a mortgage before, so our handy glossary explains all the terms you may be about to see and hear.

 
Read the glossary 

Interest rate change
calculator

Use our interest rate change calculator to get an idea of how an interest rate change could affect your monthly mortgage payments.

 
Use our calculator 

Monthly mortgage payments calculator

Get an idea of how much your monthly payment could be if you decided to take a new repayment mortgage with a different interest rate, or if you wanted to adjust the length of your term.

 
Use our calculator 
Questions about the eKo Cashback Mortgage

How can I find a copy of my Energy Performance Certificate (EPC)?

For properties in England and Wales, you can find a copy of your EPC online at www.epcregister.com using your postcode or unique reference number. For properties in Scotland, please visit www.scottishepcregister.org.uk

 

What happens if the home I’m remortgaging or buying doesn’t have an EPC?

In that case, you’ll need to have a new EPC assessment undertaken to determine the home’s current energy performance rating. For properties in England and Wales, you can find an assessor by visiting www.epcregister.com or www.localsurveyorsdirect.co.ukFor properties in Scotland, please visit www.scottishepcregister.org.uk

 

What happens if the property’s existing EPC has expired?

You will need to have a new EPC assessment undertaken to determine the home’s current energy performance rating. For properties in England and Wales, you can find an assessor by visiting www.epcregister.com or www.localsurveyorsdirect.co.uk. For properties in Scotland, please visit www.scottishepcregister.org.uk

 

How much will an EPC assessment cost? 

The cost for an EPC assessment can vary depending on who the assessment company is and which area you live in. For properties in England and Wales, if you visit www.epcregister.com or www.localsurveyorsdirect.co.uk you’ll be able to find an assessor. For properties in Scotland, please visit www.scottishepcregister.org.ukWhen you contact your chosen assessor they will give you a cost.

 

Why do I need to supply you with a new EPC rating?

We’ll need to see what your EPC rating is before and after you make any home improvements that improve your energy efficiency SAP points so that we can verify that you have achieved an increase of 10 points. For example, if the SAP points shown on your EPC are 55 before you make any home improvements and your new EPC shows that they have increased to 65 after the improvements we will be able to verify that you have increased your SAP points by the required amount.

What kind of home improvements can help me increase my SAP points?

You will find recommended energy efficiency improvements for the property on your existing EPC and the number of SAP points each measure accumulates.

 

I’m thinking about having solar panels fitted to my roof; is there anything I need to consider and do I need to ask your permission first?

If you plan to purchase solar panels outright and your property is freehold, you do not need to request consent from us.  However, if you would like to enter into a lease agreement with a solar panel firm you must request consent. Before we can give you consent to proceed, we will need confirmation that your request meets several requirements including, but not limited to, that your property is freehold and that the installation firm you plan to use is accredited by the Microgeneration Certification Scheme (MCS). 

 

Will I need a solicitor to review the solar panel lease agreement?

Yes. We will need you to instruct a solicitor (following completion and at your own expense) who is willing to act on behalf of you and Kensington. The solicitor will need to review the lease agreement and confirm that our minimum requirements for consent have been met.

 

What happens if the recommended energy efficiency improvements on my EPC don’t add up to 10 SAP points?

In this case, we would recommend you talk to your broker as another Kensington mortgage may be more suitable for you.       

Where do I send my new EPC?

Once you have completed your energy efficient home improvements and have a new EPC, you can send it to us by email at generalenquiries@kensingtonmortgages.co.uk or by post at Kensington Mortgages, Ascot House, Maidenhead Office Park, Maidenhead, SL6 3QQ.

 

Is there a time limit for me to carry out the home improvements and send my new EPC to you?

Yes, you have 12 months from the date of your mortgage completion to make any home improvements and send a new EPC to us.

 

How long will it take for you to verify my SAP points increase? 

We ask that you allow 28 days for us to verify your SAP points increase. 

 

What happens after I have submitted my new EPC to you? 

We’ll write to you to let you know the outcome of the review of your new EPC and SAP points.

 

How long after you have verified my SAP points increase will it take for me to be paid the cashback? 

We’ll pay the £1,000 cashback into the bank account your active Direct Debit is collected from within 5-10 working days. 

 

Are there any instances where I won’t be paid my cashback? 

To be eligible for your cashback, you must make your claim within 12 months of completion and your mortgage account will need to be up to date, with all monthly payments having been made on time and in full.  You will also need to have an active Direct Debit in place.  

 

What happens if my SAP points increase isn’t verified? 

If we are unable to verify your SAP points increase we will write to you and let you know the reason why.

 

If you can’t verify my points increase, will I have another opportunity to increase them? 

If you are still within 12 months of the completion date of your mortgage, you can make another application. 

FREQUENTLY ASKED QUESTIONS

Who can I speak to about taking out a mortgage with Kensington?

If you’d like to know more about one of our specialist mortgages, have a chat to your mortgage adviser who will be able to give you our latest rates and answer any questions you may have. 

We've teamed up with Like Mortgage Advice, a specialist mortgage adviser who can advise you FEE FREE on Kensington products and guide you through the application process.

Like Mortgage Advice Limited is an appointed representative of Hawke Financial Services LLP, who are authorised and regulated by the Financial Conduct Authority (FCA Register No. 478284).

You can contact them by visiting Like Mortgage Advice or call on 020 3827 8940 (Mon-Fri 9am - 5:30pm).

If you'd prefer to find your own mortgage adviser, you can visit Unbiased.co.uk where you'll find a list of advisers you can choose from.

 

What does execution only mean?

In certain circumstances, you can apply for a mortgage or make changes without taking professional advice; this is known as "execution only". Please bear in mind, that you will need to be familiar with the details of the mortgage and any changes you wish to make. 

There are a limited set of circumstances under which we currently offer an “execution only” process, for example, if you wanted to make a change to your existing mortgage via our contract variations team.  However, we would encourage you to seek financial advice before making any changes to your mortgage.

Please note, we are unable to accept a new application on an “execution only” basis, as all new applications need to be submitted to us through a mortgage adviser

 

Can you give me information about the boundaries of my property?

Providing these details are held with the original deeds, we can supply copies of plans and boundaries upon receipt of a formal written request. If we don’t hold the information you require, we will provide you with the appropriate contact details for HM Land Registry, who may be able to help.

Where can I find information about interest only mortgages? 

The Money Advice Service is a free, unbiased and independent source of information on all aspects of money management and is available to all.

 

Why is my balance not reducing when I make my payments each month?

If your account is operating on an interest-only basis, you will only be paying the interest due each month and your overall balance will not reduce.

What interest rate is my mortgage linked to?

To find out what interest rate your mortgage is linked to, check your mortgage offer documents.  

If you have a tracker mortgage that is linked to Bank of England Base Rate, then the rate that you are charged will reflect variations in this.

 

What are the current variable base rates?

KSR – 0.10% effective from 1 October 2020

LIBOR - 0.05% effective from 12 November 2020

BBR - 0.1% effective from 2 April 2020

KVR - 3.05% effective from 1 September 2020

MPVR (formerly known as Money Partners Variable Rate*) - 2.05% effective from 1 September 2020

KEN MBR (formerly known as GE Mortgage Base Rate**) - 3.26% effective from 15 September 2020

Oakwood KVR*** - 1.51% effective from 1 September 2020

Oakwood MPVR**** - 0.51% effective from 1 September 2020

We apply changes in the interest rate from the date the change becomes effective, the effective date of the most recent change is shown above. If a change affects you, it will be reflected in your next contractual monthly instalment after the change.

*This rate applies to mortgages acquired from Money Partners Limited

**This rate applies to mortgages acquired from GE Money Home Lending Limited

***This rate applies to mortgages taken out with Kensington Mortgage Company Limited, which were acquired by Oakwood Homeloans Limited and then transferred back to Kensington Mortgage Company Limited

****This rate applies to mortgages taken out with Money Partners Limited, which were acquired by Kensington Mortgage Company Limited then Oakwood Homeloans Limited and then transferred back to Kensington Mortgage Company Limited

 

Is interest charged to my account daily or monthly?

Your interest calculation will depend on your mortgage product. Please refer to your mortgage offer for more details.

Can I extend or reduce the term of my mortgage?

If you wish to change the term of your mortgage, please contact our Customer Services team to discuss this. We are always happy to hear from you and discuss your options.

 

What do I do if I want to add or remove a party to my mortgage?

Please contact our Customer Services team to discuss. We may only be able to help in certain circumstances and you will need to meet certain eligibility criteria.

 

My name has changed. Can I change this on my mortgage?

Yes you can. If your name has changed due to marriage, we’ll need a copy of the marriage certificate (original or certified) along with new and old signatures for verification purposes. If the marriage was outside the UK, we will need you to obtain an apostille certificate (original or certified) and supply this along with the above. If your name has changed due to divorce, we’ll need a copy of the decree absolute (original or certified) along with new & old signatures for verification purposes. There are no charges involved in this process.

 

Can I change my mortgage repayment type?

It might be possible for you to convert from an Interest-Only to a Capital and Repayment mortgage. Please contact us to discuss your options.

 

Can someone else speak to you on my behalf?

Yes, but we will need a letter of authority from you first. If you have any queries, please get in touch. 

Can I change my regular payment date?

If you would like to change your payment date, please contact us to discuss this further.

 

What methods can I use to make payments to my mortgage?

The easiest way to ensure your mortgage payment reaches us on time is to pay by Direct Debit. It is also possible to make payments using either a debit card, standing order or internet banking. If you are unsure about what payment methods are available, please contact us. Please note that we’re unable to process payments via credit card.  For more information visit ‘Ways to pay your mortgage’.

 

Can I set up a Direct Debit in the name of a third party?

The money used to make regular mortgage payments must come from a person named on the mortgage. It is therefore essential that the Direct Debit is in the name of a mortgage holder, and not a third party.

 

Can I make additional payments?

Over-payments are permitted but with specific conditions attached. These can include minimum and maximum amounts and Early Repayment Charges. Please refer to your mortgage conditions for full details.

 

How can I make sure the payments get to you as quickly as possible?

Quoting your mortgage account number as a payment reference will help us process your payment faster. If you don’t, there is a risk of the payment not reaching your mortgage account. Additional interest will be incurred if your payment is received after the date it is due.

What if I am having problems making my mortgage payment?

If you are having trouble paying your mortgage, please contact us, sooner rather than later, so we can better understand your situation and do what we can to help.

There are several sources of free independent financial advice, including organisations specialising in debt management. 

 

Can someone visit me to talk about my mortgage?

We can arrange for a field agent to visit your home to discuss your mortgage. This will incur a charge.

Can I take my mortgage with me to another property?

Taking your mortgage with you to another property is known as “porting”. We have a limited number of products where porting can be considered. Please refer to your mortgage conditions to see if porting is available on your mortgage.

 

Can I borrow more money against my property?

Unfortunately, we do not currently offer further advances.

 

Can I let my property out?

If your property was purchased with a residential mortgage, in certain circumstances, we may consent to letting. If you would like us to assess a letting application, please write to us.

If we agree to your request, your interest rate may increase, and you will incur an additional fee for us to carry out the assessment.

When does my Early Redemption Charge period end?

Please refer to your official mortgage offer document. The section entitled 'What happens if you do not want this mortgage anymore' provides full details.

 

What happens with Early Redemption Charges if the borrower is deceased?

In this situation, the charges will be waived.

 

Do you accept redemption monies by cheque?

We do accept cheques. However, in the event of the account being charged daily interest, an additional 5 days will have to be charged to allow time for the cheque to clear.

 

How do I arrange a bank transfer of redemption monies?

You’ll need to approach your own bank with the account details shown on your redemption statement. Your bank will then forward the funds to us.

 

Can I use the redemption statement beyond the date it is valid?

The accompanying notes to the redemption statement provide advice on the validity period and the circumstances in which you can add additional interest.

 

What are the charges associated with redeeming my mortgage account?

There may be Early Repayment Charges applicable upon redemption of your mortgage. You can find this information in your mortgage offer document.

Upon redemption, fees are applied for administration and release of deeds These fees can be found in your mortgage offer document. Please note, all applicable fees can be viewed in full when you request a full and final redemption statement by contacting our customer services team.

 

What are the 'Projected Solicitors Costs' included in my redemption statement?

These are predicted costs provided to us by the external solicitors acting on our behalf. They are overestimated to cover any works that may be undertaken within that month to redeem your account. If no further work is undertaken at the time the account is redeemed, this amount is refunded back to you.

 

How much of an Overpayment can I make? 

Your maximum Lump Sum Overpayment (LSO) depends on the original mortgage or credit agreement. In addition, we may need to request evidence of the source(s) of funds. Please call our customer services team for more information.

What is buildings insurance?

Buildings insurance is designed to cover the rebuilding cost should your home suffer any damage to its structure. Damage could be caused by a variety of different factors, including fire, burst pipes, water damage and vandalism, whilst some policies may also cover accidental damage. As well as the structure, buildings insurance may cover permanent fixtures and fittings.

Having the right buildings insurance cover in place is of vital importance as it should cover the cost to rebuild the main elements of your property, including walls, floors, ceiling, roof, windows and doors. Garages and other outdoor buildings can also be included.

Each year, the Association of British Insurers produces guidelines on rebuilding costs. It is worth referring to these when taking out or renewing building insurance to help you assess the cover you need.

 

Do I need buildings insurance?

Yes. It is a condition of your mortgage that you have adequate buildings insurance for your property. Details of your policy must be provided, if requested.

Adequate buildings insurance must be in place at all times and meet the following minimum requirements:

  • The policy should be arranged with an insurance company regulated by the Financial Conduct Authority
  • The policy schedule must show the period of insurance
  • The level of cover must be at least equivalent to the current reinstatement value and be index linked
  • The buildings insurance is arranged on the property your mortgage is secured on

Before making any decisions regarding your insurance needs, we suggest that you seek independent advice from an FCA authorised insurance broker or intermediary. They will be able to recommend the level of insurance needed to protect your property fully. 

 

What happens if I don’t have buildings insurance?

Having adequate buildings insurance is a condition of your mortgage, so not having a policy in place means you will be in breach of your contract and could therefore be putting your mortgage – and your home – at risk. It remains your responsibility to insure your property. We will remind you of this obligation, annually, when we issue your Mortgage Account Statement.

 

What is Lenders Interest Only (LIO) insurance? Am I covered?

LIO is a buildings insurance policy solely for the lender. LIO is arranged in the event of you failing to provide requested evidence of buildings insurance cover on the property. This policy only insures us and protects our financial interest in the property. It does not provide you with any cover for rebuilding costs. You should therefore not rely upon LIO insurance for insuring your property; you must always arrange your own buildings insurance.

 

Do I need contents insurance?

It is not a requirement of your mortgage conditions to insure the contents of your property. However, as a buildings-only insurance policy will not cover personal possessions, furniture or household goods that are not permanent fixtures, you may want to do so. If you have any questions or want to understand what cover is right for you, speak to an insurance broker or intermediary.

 

When do I need to provide my buildings insurance details to you?

When your mortgage first completed, you would have provided details of your own buildings insurance.  We do not require you to provide evidence of insurance every year. However, under the terms and conditions of your mortgage we have the right to request evidence of buildings insurance at any time during the life of the mortgage. It’s important, therefore, that you ensure adequate buildings insurance cover remains in place throughout the life of your mortgage.  In addition to breaching the terms and conditions of your mortgage, failure to maintain adequate buildings insurance will leave you financially unprotected in the event that your building is damaged or destroyed.

 

How do I provide you with my buildings insurance details?

If we ask you to provide evidence of buildings insurance, you should provide a photocopy of the insurance schedule by post, e-mail or fax (see contact details below). Please do not send your original insurance schedule to us – you should keep this in a safe place. 

 

What are your contact details?

Kensington Mortgage Company Limited 

Ascot House, 

Maidenhead Office Park,

Maidenhead,

Berkshire,

SL6 3QQ.

Telephone: 0333 300 0921

Fax: 0333 300 0923

Need to get in touch?

Contact us by phone

Customer Services:
0333 300 0921
Experiencing financial difficulty:
0333 300 0920
 

Write to us

Kensington Mortgages

Ascot House

Maidenhead Office Park

Maidenhead

SL6 3QQ

 
When somethings not right
 

If you wish to make a complaint

We really want to get it right first time, but sometimes we don’t. If we haven’t met your expectations, please talk to us.

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Kensington and Kensington Mortgages are trading names of Kensington Mortgage Company Limited (registered in England & Wales No. 3049877), which has its registered office address at: Ascot House, Maidenhead Office Park, Maidenhead SL6 3QQ.

Kensington Mortgage Company Limited is authorised and regulated by the Financial Conduct Authority (Firm Reference No. 310336). Some investment mortgage contracts are not regulated by the Financial Conduct Authority.