This is available on Kensington’s Select range on a two-year fix at 70 per cent loan to value (LTV). It has a completion fee of £999 and is currently available on all sourcing systems as well as its own broker portal.
It is currently the only 70 per cent LTV mortgage the lender offers. Rates for deals at 75 per cent LTV and above start from 4.29 per cent. At the moment, Kensington is only lending up to 80 per cent LTV.
Kensington said it planned to announce further product updates and rate cuts in the future.
Craig McKinlay, new business director at Kensington Mortgages, said: “We’re always striving to offer the most competitive and affordable deals to help all borrowers at every stage of life.
“Our newest rate is one of the lowest available on the market from a specialist lender and we feel this shows our continued commitment to helping those who are underserved.”