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The Mortgage Works and Kensington cut fixed rates – roundup

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  • 26/09/2018
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The Mortgage Works and Kensington cut fixed rates – roundup
The Mortgage Works (TMW) and Kensington Mortgages have reduced their fixed rates.

 

TMW has cut its two-year fixed to 1.49% for the up to 65% Loan to Value (LTV) mortgage with a £1,995 fee and to 2.14% with no fee.

Selected products at up to 75% LTV are also being reduced by up to 0.40%.

The five-year fixed rate mortgage at up to 75% LTV with a £1995 fee and free standard valuation and £250 cashback is also being reduced by 0.10% to 2.49%.

Additionally, a five year fixed rate limited company product at up to 80% LTV is being introduced, with a rate of 3.69%, in response to broker feedback.

Tracker rates start at 1.44% for the up to 65% LTV two-year product with a £1,995 fee. All tracker products have the switch to fix facility, enabling customers to switch to an existing customer fixed rate deal without incurring early repayment charges (ERCs).

In addition, the cashback of £250 for let to buy products is being extended across the whole let to buy range. Selected rates for large portfolio products will increase by up to 0.20%.

Paul Wootton, managing director of TMW (pictured), said that these changes are designed to support a wide range of landlords, helping them to access a greater choice of competitive rates and to manage their cash flow.

 

Kensington Mortgages

Kensington Mortgages has launched a ten-year residential fixed product for a limited time only, available from 26 September.

The new residential ten-year fixed mortgage, with five-year early repayment charge will be available at both 75% and 80% LTV. Rates start at 4.34% at 75% LTV.

Residential select products offered at 85% LTV have decreased by 0.20% to 3.39% on a two year fixed rate, while a five-year fix has decreased by 0.35% to 3.79%. The product fee has been cut from £1,299 to £499 on both.

On buy to let, the offer is available at 75% LTV for a two-year fixed term at 2.59%, a decrease of 0.30%. These offers will be available until 31 October 2018 for all completed decision in principle applications.

Craig McKinlay, sales and marketing director at Kensington Mortgages, said: “We’ve been making several changes recently across our product range, all of which have been well received by intermediaries.

“Our latest updates further reinforce our commitment to supporting under served borrowers across the UK, and we hope these changes continue to help intermediaries to provide the best possible service to clients, whatever their individual circumstances may be.”

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