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Kensington launches Help to Buy: Equity Loan in England and Wales

  • 27/06/2017
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Kensington Mortgages, has launched its Help to Buy scheme for new-build properties today, after announcing its intention to launch the range at Legal and General Mortgage Club’s new-build forum in May.

The range targets both first-time buyers and home movers with a 5% deposit across Wales and England, including London.

The Help to Buy products are offered at 75% loan-to-value (LTV) and cover two, three and five-year fixed-rate mortgages. The maximum loan amount will be driven by the maximum property value available on the Help to Buy scheme, which is currently £600,000 for England and £300,000 for Wales.

Rates start from 3.64% and free valuations are also included in the offer with no interest payable for the first five years on the equity loan.

Kensington Mortgages has also updated its resi new-build range, five-year fixed rates starting from 3.74% at 75% LTV.

Steve Griffiths, director of sales and distribution, The Northview Group, said: “Last month, Kensington announced its intention and as a lender that is dedicated to helping customers with complex circumstances, we are very pleased to announce that our products are now live.

“The government’s Help to Buy scheme is fundamental in helping many first-time buyers take their first steps onto the property ladder. However, whilst standard borrowers can easily access these loans from the high street, it’s also important that the specialist market improves the choice of Help to Buy mortgages for borrowers with complex sources of income.

“This is precisely why Kensington has launched this range today, giving customers both improved choice and a highly competitive deal when buying a new-build property.”

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