Kensington Mortgages fixed-rate mortgages change

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Kensington Mortgages fixed-rate mortgages change

The Kensington Mortgage fixed-rate mortgage range has been subjected to a reduction in interest rates and the lender has also launched a series of mortgages.

Although the Bank of England raised the base rate last month – a move that prompted some mortgage lenders to increase their interest rates – Kensington Mortgages has lowered its fixed-rate mortgages by up to 0.25 per cent.

This change to rates means that the Kensington Mortgage near prime fixed-rate products can be taken out for a rate of 5.29 per cent. Also, an 85 per cent loan-to-value tier has been introduced by the lender for near prime, near prime max, very low and medium adverse customers.

Ian Giles, director of marketing at Kensington Mortgages, remarked: "Lenders traditionally look at revamping their products in the new year, but as pioneers of the specialist mortgage market we at Kensington like to stay one step ahead – so we've launched our new products for 2007 a month early."

Kensington Mortgages will continue to provide free valuations as well as no higher lending charges on these products. Established in 1995, forming part of the Kensington Group, Kensington Mortgages became a public limited company back in 2000.

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