Kensington cuts buy-to-let rates
Kensington has cut its buy-to-let rates by up to 0.25% – with mortgages including a 70% loan-to-value 2-year fix at 3.74% with a 2% completion fee.
The lender cut the cost of its fixed completion fee from £1999 to £999, with fixed terms starting from 4.24%.
Kensington is also offering a full range at 80% LTV, with 2-year fixes standing at 4.49% with a 2% completion fee, or starting from 4.99% with a £999 fee.
Steve Griffiths, head of sales and distribution at Kensington, said: “We see opportunity in the buy-to-let market for mortgages up to 80% LTV, particularly as we don’t require a minimum income for existing landlords. These changes are a significant move in making brokers sit up and look at Kensington again for their buy-to-let clients.
“The changes to our Buy to Let product range are all part of Kensington’s growth plans and we look forward to launching a number of further product developments in the near future.”