Rates issued through the lender’s newly launched energy-efficiency range eKo are five basis points lower than rates on its standard range.
The range includes two-year fixed rates at 85% loan to value (LTV) priced at 5.24% and 90% LTV priced at 5.61%, as well as five-year fixed rates at 85% LTV at 5.29% and 90% LTV at 5.67%.
All include a £1,499 fee and free valuation. For residential borrowers, Kensington Mortgages has also raised the maximum loan size from £500,000 to £1m up to 90% LTV and £1.5m up to 85% LTV.
BTL green deals
On the BTL side of the business, capped at 75% LTV, two-year green fixed rates are set at 4.74% with a £1,499 fee, 4.51% with a £4,000 fee, 3.69% with a 3% fee, and 5.18% with no fee.
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Kensington Mortgages has also introduced five-year fixed rates at 4.82% with a £1,499 fee, 4.67% with a £4,000 fee, 4.27% with a 3% fee, and 4.94% with no fee.
The maximum loan size for Kensington Mortgages’ BTL eKo mortgages has also been increased to £750,000, up from £500,000.
To be eligible for Kensington Mortgages’ eKo range, residential borrowers must be purchasing or remortgaging a property rated as A or B for energy efficiency, while BTL borrowers must be purchasing or remortgaging a property rated as A, B, or C.
Andy Bickers, commercial director at Kensington Mortgages, said: “We regularly engage with our broker partners to ensure our propositions are aligned with what matters most to their clients. Feedback told us that, particularly in the current market, lower rates would deliver greater long-term value than cashback, which is why we’ve refreshed our eKo range with reduced pricing across selected products.”
