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Kensington launches capped trackers

  • 06/06/2011
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Kensington launches capped trackers
Kensington has launched a range of capped rate trackers, with initial rates starting from 3.14% with a cap of 4.79%.

The range includes two- and three-year capped trackers up to a maximum of 80% LTV.

The range, which tracks LIBOR, include a two-year tracker with an initial rate of 4.09% with a cap of 5.74%.

In addition, there are two-year capped trackers at 3.14% up to 60% LTV and 3.34% up to 75% LTV, with caps at 4.79% and 4.99% respectively.

Charles Morley, head of sales at Kensington, said: “The launch into capped trackers addresses growing concerns about rate rises and delivers a combination of competitive rates and peace of mind for borrowers.

“Research among existing customers and brokers demonstrated a demand for further innovation in our product range and our capped trackers offer a realistic cap to help guard against rising rates, which we believe will fill a gap in the market where few lenders are offering a solution.”

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