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Kensington cuts resi HTB and BTL rates

Kensington Mortgages has reduced rates across its residential Help to Buy and buy-to-let (BTL) ranges.

Notable cuts include the 75% LTV 2-year fix reduced from 3.54% to 3.29%, and the 75% LTV 5-year fix from 4.14% to 3.89%.

Both the above two deals are in the lender’s HTB range, include free valuations and £500 cashback.

Additionally within the BTL range, the 85% LTV 2-year fix has been reduced from 4.64% to 4.39%, and the 85% LTV 5-year fix has been slashed from 5.34% to 5.09%.

The lender has also upped the maximum loan size on 80% LTV products to £2m, on 85% LTV offerings to £1.5m and on 90% LTV deals to £1m.

Across its BTL range, Kensington Mortgages has reduced the £70,000 minimum loan size to £25,001, this includes individual landlords, Limited Company, HMOs and multi-unit blocks, and those on the Property Plus product for homes with non-standard construction.

Craig McKinlay (pictured), new business director at Kensington Mortgages said: “These rate reductions and other product changes seek to provide borrowers and landlords increased flexibility and choice across our ranges.

“While HTB may soon be ending as we know it, we want to give first-time buyers, who may otherwise have been turned away from the high-street for being too ‘complex’, the best chance of home ownership.”

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