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Kensington relaunches Help to Buy and BTL purchases; NatWest increases PT rates

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  • 29/05/2020
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Kensington relaunches Help to Buy and BTL purchases; NatWest increases PT rates
Kensington Mortgages is resuming lending in several sectors and increasing maximum loan to values (LTVs) while NatWest has raised rates on its product transfer (PT) deals.

 

Kensington returns to new build

Kensington Mortgages is relaunching its new build and Help to Buy ranges from next week

It will also resume buy-to-let purchase applications. 

Mortgage Solutions understands the lender is introducing a raft of changes to its offering on June 3.

Furthermore, the lender will launch 80 per cent LTV mortgages within its select, core, hero and young professional ranges as it continues to reintroduce its range following the coronavirus disruption.

Earlier this month, the lender brought its lending back up to 75 per cent LTV following a temporary restriction on lending above 70 per cent LTV. 

 

NatWest PT changes

NatWest has increased rates on its residential two- and five-year fixed switcher products for existing customers by as much as 46 basis points (bps), effective from today.

Its two-year fixed rate fee-free switcher product at 80 per cent loan to value (LTV) has seen a 0.07 per cent rate increase to 2.89 per cent, while the £955 fee equivalent has risen by 0.18 per cent to 1.70 per cent. 

The 85 per cent two-year fixed switcher with a £995 product fee has increased by 28bps to 1.96 per cent and the fee-free option has seen a 0.7 per cent rise to 2.98 per cent. 

At 90 per cent LTV, the fee-free two-year fixed switcher has seen its rate increased by 0.13 per cent to 3.08 per cent and the equivalent with a £995 fee has risen by 0.46 per cent to 2.26 per cent. 

Among the five-year fixed rate switcher products, the fee-free 80 per cent LTV offering has increased by 0.07 per cent to 3.17 per cent. The version with a £995 fee has risen by 23bps to 2.11 per cent.  

At 85 per cent LTV, the rate for the deal with a £995 fee has gone up by 40bps to 2.47 per cent and the 90 per cent LTV equivalent has increased by 0.36 per cent to 2.71 per cent.  

 

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