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Kensington Mortgages tweaks Professionals criteria; TSB ups rates – round-up

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  • 07/06/2024
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Kensington Mortgages tweaks Professionals criteria; TSB ups rates – round-up
Kensington Mortgages has made improvements to its Professionals product range and brought out 95% loan to value (LTV) special rates.

Kensington Mortgages has removed the maximum age limit of 40 at application from its Professionals range, which will permit more eligible borrowers, such as chartered accountants, actuaries, barristers, commercial pilots, dentists, doctors, and solicitors, to benefit from the range’s “enhanced affordability”.

The Professionals range goes up to 90% LTV and has two- and five-year fixed rates for purchase and remortgage.

Borrowers can secure up to six times their income subject to affordability requirements.

Kensington Mortgages has brought out a 95% LTV special rate that comes with £1,000 cashback, free valuation and no fees.

Its two-year fixed rate is priced at 7.69%, the three-year fixed rate comes to 7.39% and five-year fixed rate is 7.19%.

Vicki Harris, chief commercial officer at Kensington Mortgages, said: “We are thrilled to now be offering our Professionals product range to more customers. By removing the age limit for applications and introducing new special rates, we hope to enable more borrowers to benefit from the affordability advantages [that] the range can offer.

“Along with the launch of our new 95% LTV special rates, these latest changes to our offering mark a continuation of our efforts to provide more options for borrowers while maintaining market leading service standards, including exceptional service times.”

Kensington recently released mid-LTV products to serve borrowers who sit between the usual 5% incremental LTV bands.

 

TSB ups select resi rates

High street lender TSB has increased select two- and five-year first-time buyer and homemover rates by around 0.2%.

The lender has upped some of its two-year fixed first-time buyer and homemover rates between 75% and 95% loan to value (LTV) by around 0.2%.

Two-year fixed rates in this range at 75% LTV in this bracket start from 5.19%.

TSB has increased its five-year fixed rate and homemover deals from 75% to 90% LTV by up to 0.2%.

Five-year fixed rates in this range at 75% LTV will be priced from 4.79%.

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