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Kensington enhances large loan range; Accord increases max LTV for foreign nationals – round-up

  • 15/11/2023
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Kensington enhances large loan range; Accord increases max LTV for foreign nationals – round-up
Kensington Mortgages has updated its large loan mortgage range with the addition of a three-year fixed option.

Its large loan offering is for amounts ranging from £500,000 to £2m and the lender already offers two and five-year fixed options. 

Pricing on the three-year fixed deals start at 5.99 per cent with a £1,999 fee or 6.09 per cent with a £1,499 fee. 

Borrowing is available up to 85 per cent LTV, where the option with a £1,999 fee is priced at 6.54 per cent and the deal with a £1,499 fee has a rate of 6.64 per cent. 

The products are available for purchase or remortgage and offer a free valuation.  

Vicki Harris, chief commercial officer at Kensington Mortgages, said: “By enhancing the criteria of our large loan offering and expanding our product range, Kensington is aiming to provide a greater number of options for brokers when supporting their residential clients. We’ve also introduced set fees to make work easier for our intermediary partners and to simplify the borrowing process for customers.  

“The refinement of our offering furthers Kensington’s goal of meeting the diverse needs of borrowers and providing an inclusive offering in a complex mortgage market.” 


Accord improves range for foreign nationals 

Accord Mortgages has made changes to its range for people who have settled in the UK. 

It has increased the maximum LTV for joint applications where one borrower does not have indefinite leave to remain from 75 per cent to 95 per cent. 

The change brings the lending limit in line with the availability to other UK nationals or those who have indefinite leave to remain for purchase and remortgage. 

For joint applications where neither applicant is a British national or has indefinite leave to remain, the limit of 75 per cent LTV will remain. 

Andrew Calder, Accord’s corporate account and propositions manager, said: “We’ve seen increased demand from brokers for solutions to help their clients from other countries who are living and working in the UK obtain mortgages. 

“That’s why we’re delighted to be able to make this latest change, to help borrowers in this particular underserved segment of the market secure the mortgage they need.” 

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