Buy-to-let rates start at 3.54% for loan-to-values (LTV) up to 70% and 3.74% for mortgages up to 75% LTV.
Following a 0.30% rate cut on its residential range, rates start at 3.09% for borrowers with applications up to 65% LTV and 3.19% for mortgages up to 75% LTV. At 80% LTV rates start at 3.69%. All products come with a range of fee options.
A deal to buy out Kensington completed on 2 February, seeing the specialist lender change hands from its parent company Investec to private equity partners Blackstone Tactical Opportunities and TPG Special Situations Partners.
In an exclusive interview with Mortgage Solutions, chief executive Keith Street (pictured) said it had a ‘raft of creative ideas to push the expansion of its specialist lending portfolio’.
“When the time is right there will be the opportunity for us to drive forward. How far, how big, I can’t say at this moment in time. But you wouldn’t buy a business like Kensington intending to sit on it,” said Street.
The Kensington boss said that while its business will primarily remain residential it planned to grow specialist areas such as buy to let by, for example, changing the 65 age limit on its residential mortgage products.
It is also looking closely at equity release, shared ownership, Right to Buy and custom build.
Kensington said it expected complete separation from its parent Investec to take six months.
