The lender, which was acquired by Barclays last year, has lowered residential rates by up to 0.2 per cent across selected options, including its select, core, hero, young professionals, Eko £1,000 cashback, Eko £500 reward and property plus products.
Rates within its select range include a five-year fix priced at 5.29 per cent, a three-year fix at 5.49 per cent and a two-year fix at 5.59 per cent. All are available up to 75 per cent loan to value (LTV) with a £999 fee.
Across its hero mortgages, the lender has a five-year fix priced at 5.19 per cent and a two-year fix at 5.49 per cent. These are also available up to 75 per cent LTV with a £999 fee.
Rates on its Eko green mortgages up to 75 per cent LTV now stand at 5.39 per cent for a fee-free five-year fixed deal.
Kensington has launched fee-free options at 95 per cent LTV. This includes a five-year fix priced at 7.44 per cent, which offers a free valuation. For a £1,299 fee, the corresponding product has a rate of 6.94 per cent.
The fee-free three-year fix has a rate of 7.59 per cent, or 7.09 per cent with a £1,299 fee, while the corresponding two-year fixed rates are 7.99 per cent and 7.49 per cent respectively.
BTL changes
Across its BTL products, reductions of up to 0.96 per cent mean rates start at 5.19 per cent for a five-year fix, 5.29 per cent for a three-year fix and 5.59 per cent for a two-year fix. This applies to deals at 75 per cent LTV with a two per cent fee and is open to limited company borrowers.
Kensington Mortgages is also introducing special rate products that come with free valuations. This includes a two-year fix at 70 per cent LTV with a rate of 4.15 per cent, or 4.54 per cent at 75 per cent LTV. There is also a five-year fix at 75 per cent LTV priced at 4.49 per cent. All options include a five per cent fee.
With a three per cent fee and also at 75 per cent LTV, the lender has launched a two-year fix with a rate of 4.84 per cent and a five-year fix priced at 5.09 per cent.
For lending against houses in multiple occupation (HMO) or multi-unit blocks (MUBs), Kensington Mortgages has launched a five-year fix at 75 per cent LTV with a 4.69 per cent rate and a two-year fix at 70 per cent LTV priced at 4.24 per cent. Both have a five per cent fee.
Kensington Mortgages advised that special rates could be withdrawn at any time.
Vicki Harris (pictured), chief commercial officer at Kensington Mortgages, said: “This latest update to our product range highlights the increasing breadth of Kensington’s offering as we continue to look for ways to cater to the distinct needs of a wider range of borrowers. In combination with our unique approach to criteria development and our sophisticated underwriting capabilities, Kensington’s sustained commitment to product development will help us offer our services to a larger proportion of the market.
“Through continuing to respond quickly to market needs, such as by reducing rates and introducing no-fee options, we aim to provide greater support for our clients in realising their goals of property ownership.”
