You are here: Home - News -

Kensington withdraws high LTV resi deals and host of BTL products

by:
  • 12/11/2020
  • 0
Kensington withdraws high LTV resi deals and host of BTL products
Kensington Mortgages has withdrawn two key mortgage ranges temporarily as it seeks to prioritise its service standards for intermediaries and borrowers.

 

The lender has withdrawn all standard residential products at 85 per cent loan to value (LTV) – its highest new business LTV.

It is however keeping its Hero range for essential workers such as firefighters, police officers, NHS staff and public sector teachers active at 85 per cent LTV.

It has also withdrawn a two-year fix at 70 per cent LTV at 1.99 per cent from its residential range.

In buy-to-let, Kensington is removing all two-year fixed products.

Craig McKinlay, new business director at Kensington Mortgages, (pictured) said: “We have seen a strong increase in demand and delivering a high standard of service to our brokers is important to us.

“To continue to do this, we have temporarily withdrawn some of our product range due to the high volume of applications and to manage our service levels.

“We are constantly keeping our products under review and will notify our brokers as soon as possible when we relaunch these.”

 

 

There are 0 Comment(s)

You may also be interested in

Read previous post:
mortgage arrears sign
Arrears and possessions low amid continued Covid-19 support – UK Finance

Homeowner mortgage arrears remained at historically low levels in Q3, while buy-to-let arrears rose slightly from a low base, figures...

Close