As Specialist Lending Solutions exclusively revealed, the packager launched its specialist residential service last month and Kensington becomes the tenth to join it.
Brokers will have access to Kensington’s Select 95 per cent loan-to-value (LTV) range and to the Young Professionals range with a total of 24 products through limited distribution.
Applications are welcome from the self-employed, based on one year’s accounts, plus across-the-board enhanced affordability for high earners and young professionals.
Highlights for the buy-to-let sector include up to 85 per cent LTV, Limited Companies assessed on Special Purpose Vehicle (SPV) portfolios only, a maximum age limit at application of 70 and top slicing of personal and portfolio income.
Crystal introduced its specialist residential panel as a response to growing organic demand from brokers.
CSF managing director Jo Breeden (pictured) told Specialist Lending Solutions that the firm had been receiving 10 to 12 enquiries a day prior to forming the team, with little promotional work, and that it is aiming to reach four times that number by year-end.
The move initially focuses on areas such as later life lending, ex-pats, foreign nationals, adverse credit, self-employed and contractors.
Need to constantly evolve
Breeden said the Kensington products brought a new dimension, offering the right criteria to meet complex requirements and more straightforward applications.
“It is imperative that our lending panel is always growing and evolving across all sectors, so we know that we are giving brokers access to the whole gambit of market-leading products. The agreement with Kensington definitely fulfils those criteria,” he added.
Kensington’s new business director Craig McKinlay said: “Society is changing at such speed that lenders and brokers of all kinds need to be constantly evolving their product offerings.
“There are fewer and fewer people that tick all the boxes at the big banks, perhaps because they are self-employed, contract workers, or nearing retirement.
“By partnering with Crystal we can help brokers to get more people on to the first step of the housing ladder or into the home that best suits their needs,” he added.