Kensington Mortgages prime deals launched
www.moneynews.co.uk > Mortgages > Kensington Mortgages prime deals launched
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Kensington Mortgages prime deals launched
Fri 9th Feb 2007
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In a first for the mortgage industry, the lender will offer prime, self-certification and buy-to-let mortgages for this type of borrower.
No other lender has offered these products together before, according to Kensington Mortgages.
For self-cert borrowers, who can get a maximum loan-to-value (LTV) of 90 per cent, no minimum trading period applies and income does not have to be verified.
The Kensington Mortgages Prime offering has a 95 per cent maximum LTV, which can be taken as a verified alternative to the self-certification option.l
Landlords are offered a buy-to-let mortgage with a 90 per cent LTV limit, rental calculations that are deemed "competitive" by Kensington Mortgages and a maximum portfolio size of £1 million, spanning ten properties.
Kensington Mortgages' marketing director Ian Giles said the lender's "considerable experience" of lending to the adverse credit market has allowed it to build tailor-made products that are not available from other mortgage providers.
"If, for example, someone is recently self-employed, wishes to invest in a buy-to-let property with only a ten per cent deposit, or wants to borrow 95 per cent LTV without paying a higher lending charge, they would have found it very hard to find the right deal - until now," he said.
The specialist lender has entered the market in 1995 and has scooped a number of awards for its offerings.
Last year Kensington Mortgages was named by Your Mortgage and Mortgage Magazine as the best average credit lender of the year.
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