Rates have been cut by as much as 1.08% across its Resi 12 offering, with two-year fixed rates now starting at 5.31% and five-year fixes from 5.36%. Both have a £999 fee.
Its Resi 6 rates have been cut by up to 1.03%, with both two- and five-year fixed rates now from 5.61% with a £999 fee.
Pricing is available up to 85% loan to value (LTV) for purchase and remortgage borrowers with £999 fee and no-fee options.
No fee options include a free valuation and remortgage borrowers are eligible for free legals or £250 cashback.
Kensington Mortgages allows borrowers with up to two unsecured credit arrears in the last 12 months under its Resi 12 criteria, as long as accounts are currently up to date. Borrowers must also have no defaults in the last 12 months and no more than one in the last 24 months, at a maximum of £1,500.
Further, borrowers must not have missed a secured loan or rent payment in the last 12 months and a maximum of one in the last 24 months.
There is no maximum of unsecured credit arrears for Resi 6 borrowers if there have been none in the last six months and accounts are up to date. Borrowers must not have a default in the last six months and can have a maximum of one in the last 24 months of no more than £1,500.
They cannot have had a missed secured loan or rent payment in the last three months, and a maximum of one in the last 24 months. The Resi 6 range is not open to first-time buyers.
Andy Bickers, commercial director at Kensington Mortgages, said: “At Kensington, we are committed to combining competitive pricing with market-leading service. These latest rate reductions across our Resi 12 and Resi 6 ranges demonstrate our ongoing focus on supporting customers with more complex credit histories, ensuring they have access to specialised, affordable financing solutions.
“With Kensington, every case is assessed by a dedicated, mandated underwriter who takes the time to understand the applicant’s full circumstances, rather than relying solely on automated processes. This approach allows us to look beyond the headline credit profile and make fair, informed decisions that reflect the real story behind each application.
“By pairing enhanced rates with our specialist expertise and personalised underwriting, we are continuing to offer clients with complex credit histories a clear path to homeownership.”
Earlier this month, the firm introduced reduced ‘eKo’ rates as a replacement for its £500 cashback incentive for residential and buy-to-let (BTL) borrowers who are purchasing or remortgaging an energy-efficient property.
