Kensington Flexible Buy-to-Let Mortgage unveiled

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Kensington Flexible Buy-to-Let Mortgage unveiled

Thu 23rd Mar 2006

A Kensington Flexible Buy-to-Let Mortgage has been launched today and is available at up to 90 per cent loan to value on a purchase or remortgage basis.

The deal offers a choice of two-year fixed or discounted rates from 6.04 per cent and a three-year fixed-rate of 5.94 per cent.

Product website Mortgage Introducer has reported that the buy-to-let facility is available for a 0.5 per cent loading on the residential rates.

The Kensington Flexible Buy-to-Let Mortgage also has options allowing borrowers to overpay in order to save interest and be more tax efficient with the option to draw down this overpayment in the future for emergencies or repairs.

Payment holidays and underpayments in the event of rental voids are also permitted.

"Confidence in the buy-to-let market is on the increase again, after 18 months of uncertainty. There is a strong rental sector as first time buyers are finding it hard to get onto the property ladder," said Ian Giles, director of marketing for Kensington.

The lender offers buy-to-let options for all adverse credit situations and does not place a higher lending charge or early repayment charge overhangs on any of its buy-to-let products.

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