Within Kensington Mortgages’ residential Select offering, rates start from 5.29% for 65% and 75% loan to value (LTV), 6.09% for 90% LTV, and 6.44% for 95% LTV.
Looking at its residential Select special rates, which offer £1,000 cashback, Kensington Mortgages’ 65% LTV two-year fixed rate is priced at 5.39% with a £1,499 fee and free valuation.
Regarding its 95% LTV special rates, the lender is offering 7.24% for a two-year fixed rate, 7.14% for a three-year fixed rate and 6.79% for five-year fixed rates. All special 95% LTV rates include no fee and a free valuation.
In addition, rates have been reduced by up to 155 basis points for landlord clients across Kensington Mortgages’ Core and Prime BTL ranges.
Kensington Mortgages’ Core rates now offer 70% LTV, beginning from 3.19%, while its Prime rates offer 75% LTV and start from 4.39%. Both are available to individuals and limited companies and include identical pricing and fees.
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Andy Bickers, commercial director at Kensington Mortgages, said: “The introduction of reduced rates across our residential and buy-to-let products has further strengthened the competitiveness of Kensington’s proposition. Yet what continues to truly differentiate us is the end-to-end support we provide for our broker partners.
“From our sales team that works with brokers to identify the right product for their clients, to the direct access to dedicated underwriters, and an average application to offer turnaround time of only 12 days – it is the combination of excellent service and competitive products that continues to drive Kensington’s success.”
Earlier this month, the firm restructured its business development manager (BDM) team.
Furness BS cuts rates
Furness Building Society has lowered rates across its full range of residential, BTL and holiday let deals, including its shared ownership propositions.
The lender’s two-year fixed residential rate is priced at 4.55% for residential cases up to 90% LTV, and in its shared ownership range, rates begin from 4.24% up to 95% loan to share.
All deals come with £250 cashback and are available on properties in England, Scotland and Wales.
Jonathan Cartlidge, head of member and broker strategy at Furness Building Society, said: “We know how important it is for brokers to have options for clients who need a more personal approach. Whether it’s [a] first-time buyer using shared ownership or someone with non-standard income, our underwriters take the time to understand the case. These new rates – across all our key product areas – are another way we’re making it easier for brokers to place those trickier cases.”
