Latest news
Latest news
New Residential updates
We're pleased to share some great news for your Residential clients, with new Special rates and fee options now available, and free valuations now across ALL our products.
We already have this available for your landlord clients and are thrilled to apply this incentive across our whole product range.
As well as the free valuation, your remortgage customers can also choose from free standard legals or £250 cashback.
All details are available in the Product Guide.
New lower BTL rates
We're pleased to share that we have reduced rates across our BTL range, including Prime, Core and eKo products.
Core (inc. HMO & MUB): Allows HRTP to benefit from lower ICR by using surplus earned or portfolio income
- Up to 80% LTV
- Reductions of up to 0.20%
Prime (inc. HMO & MUB):Assessed at Higher of Initial payrate plus 2% or 5.50% (2 year fixed) or assessed at Higher of Initial payrate or 5% (5 year fixed)
- Up to 75% LTV
- Reductions of up to 0.20%
Prime eKo (for properties with EPC rating of A, B or C):
- Up to 75% LTV
- Reductions of up to 0.20%
And we’re still offering free valuations on ALL BTL cases.
Please note: our HMO/MUB products are only available in England, Scotland and Wales.
Lower rates on HMO/MUB
We’ve reduced our 2 year fixed rates by 0.15% and 5 year fixed rates by up to 0.20% on HMO/MUB.
Key details:
- £750k maximum loan
- Available on 6 bed HMO or MUB
- Minimum area 30sqm on MUBs
- Suitable for First Time Landlords with a combined minimum income over £75k
Lower rates for clients with complex credit files
We’ve reduced our rates on Resi 12 by up to 1.08% and Resi 6 by up to 1.03%.
- Maximum of 2 unsecured credit arrears in the last 12 months, accounts must now be up to date.
- No defaults within 12 months and a maximum of one in the last 24 months, to have been no more than £1,500.
- No CCJs within 12 months and a maximum of one in the last 24 months, to have been no more than £1,000.
- No secured loan or rent missed payments in the last 12 months, and a maximum of one in the last 24 months.
- No maximum of unsecured credit arrears, last 6 months payments must have been made.
- No defaults within 6 months and a maximum of one in the last 24 months, to have been no more than £1,500.
- No CCJs within 6 months and a maximum of one in the last 24 months, to have been no more than £1,000
- No secured loan or rent missed payments in the last 3 months, and a maximum of one in the last 24 months.
- Please note, Resi 6 is not available to FTBs.
Lower rates on green mortgages
Following broker feedback we’ve updated our green mortgage initiative to now offer lower rates on selected products. It is also now available to your remortgaging clients as well as purchase clients.
To be eligible for the eKo reward, the property needs an energy efficiency rating of A or B for residential, and your client needs to meet our Select credit criteria. For your landlord clients, the property needs an energy efficiency rating of A, B or C and they need to meet our Prime credit criteria.
Introducing our new National Account Manager
We’re thrilled to announce that James Burwood has been promoted to National Account Manager, working with our new Head of National Accounts, Helen Cawthra.
James has over a decade of experience as a BDM, and is keen to apply his relationship skills to his new role.
Working together, James and Helen will focus on driving growth across our key accounts, strengthening partnerships, and ensuring that Kensington continues to deliver exceptional service for our customers.
As quoted by Helen “Investing in our talent is a key part of Kensington’s growth strategy, and James’s appointment reflects that commitment.”
Lower rates on BTL
We’ve introduced a series of pricing and product enhancements to support your landlord clients. Key updates include:
- Rate reductions of up to 25bps Includes Prime and Core 2 and 5 year fixed rates
- 2 year fixed now from 2.99% (75% LTV, 5% fee)
- 5 year fixed now from 4.19% (75% LTV, 5% fee)
- £1,499 fee option is now available on Core
- All BTL products offer a free valuation
Includes Prime and Core, HMO/MUBs and Limited Company
New Year Resi Rate Reductions Now Live
Rates cut by up to 0.24% across our Residential Select range
- Includes 2 and 5 year fixed rates at 80%, 85%, 90% and 95% LTV
- Also available on Hero, Professional, eKo and Own New Rate Reducer
- Right to Buy also reduced by 0.50% (2 year fixed rate) and 0.15% (5 year fixed rate)
As a reminder, all 95% LTV products are for purchase only and all include a free valuation.
Updates to our portfolio exposure limits
From 18th November, your landlord clients are permitted to hold a total of 20 mortgaged properties, with a maximum total borrowing limit of £5m (including the subject property coming to Kensington). This applies to mortgages on buy to let properties that are owned solely, jointly by applicants or through Limited Companies. Our maximum lending limit to an individual (or joint applicants) is £2m combined across Residential and Buy to Let mortgages (inclusive of fees). We apply a total loan to value cap at 80% across a customer’s total portfolio (regardless of size).
We now require landlords to complete a portfolio summary. We will need either:
- Personal Portfolio summary or Limited Company Portfolio summary this needs to explain who is applying for our mortgage eg. Jane Brown (personal) or Jane Brown Ltd (limited company)
- If your client has a combination of other BTL properties in Other Entities, we will require an Other Entity Portfolio Summary