The mortgage of the future is here. Our new Flexi Fixed for Term mortgage lets you fix your mortgage term from 11 to 40 years and pay one fixed monthly mortgage payment that will never change.
All you need to do is decide how long you’d like to fix your mortgage term for, from 11 years all the way up to 40 years. You can choose any term in between for example, it could be 11, 16 or 26 years.
Then speak to your mortgage advisor who, based on your credit profile and deposit amount, will advise you how much you could borrow and what the fixed monthly mortgage payment will be – and remember, your monthly payment is fixed for the duration
of the loan.
If you don’t have a mortgage adviser, you might want to contact Like Mortgage Advice who can offer you FEE FREE, no obligation advice on Kensington products – both before and during the mortgage application process.
Extra peace of mind
With our Flexi Fixed for Term mortgage you’ll never have to worry about fluctuating interest rates or remortgaging, ever again. You’ll have the peace of mind that comes from knowing exactly what your monthly mortgage payment will be from the start to the end of your mortgage term.
A chance to boost your borrowing power
Our new mortgage offers you the chance to boost the amount you could borrow. That’s because we use the fixed interest rate rather than the usual future variable stressed rate to calculate your ability to pay the mortgage payments. This means that if you pass our credit and affordability checks, the amount you can borrow could be higher than it would be on one of our standard mortgages.
If you downsize, or upsize, take the mortgage with you
Life doesn’t always pan out the way we expect so if you decide to move to a smaller or bigger home, you can apply to take the Flexi Fixed for Term mortgage with you – and you won’t have to pay an Early Redemption Fee. You can apply to ‘port’ your mortgage and take your fixed rate with you 12 months after your initial completion date.
Overpay by up 10% a year
We all dream of being mortgage free and with Flexi Fixed for Term, each year you can make overpayments of up to 10% of the original mortgage balance. What’s more, you can start overpaying from the first day of your mortgage.
You’re not locked in
There’s always the worry with anything long-term that once you’re in, you won’t be able to change things unless you pay a fee. Well, that’s the benefit of our Flexi Fixed for Term mortgage because you can move home and take the mortgage with you or pay it off early and you won’t be charged an Early Redemption Fee (ERC).
The only time we’ll ask you to pay an ERC is if you decide you want to move to a different mortgage with Kensington or move to another mortgage lender. Plus, to give you as much flexibility as possible, if your circumstances change you can also apply to borrow more with a Further Advance.
Yes, if you’re looking to boost your borrowing power.
Yes, if you’re looking for the stability of a single monthly mortgage payment that never changes.
If you prefer, you can find your own broker by visiting unbiased.co.uk where you’ll find a list of advisers you can choose from
