Kensington buy to let mortgage 'increases options for landlords'

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Kensington buy to let mortgage 'increases options for landlords'

The launch of a new buy to let mortgage by Kensington should give landlords more borrowing options in 2011, according to a representative from the firm.

Charles Morley, head of sales and product development at the organisation, suggested there have previously not been enough products in this category, which is why the company has opted to extend its range.

The new Kensington buy to let mortgage is available at up to 85 per cent loan to value, with interest starting from 5.24 per cent and required rental cover of 120 per cent.

"Increasing demand for private rental property is one of the few areas that commentators agree on at the moment and consensus is that there remains [a] significant opportunity for investors," added Mr Morley.

Last week, director of the Association of Mortgage Intermediaries Robert Sinclair suggested the buy to let sector looks set to be one of the bright spots in the industry in the coming year.

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