Kensington Mortgages has announced cuts to their interest rates, affecting both residential and buy-to-let mortgage products. These reductions, as high as 0.40%, are set to make property financing more accessible and affordable.

Kensington Mortgages has made a considerable adjustment to its residential mortgage offerings, decreasing rates by up to 0.33% (33 basis points) across its Select and Core product lines. These changes impact loans with a Loan-to-Value (LTV) of up to 92.5%. Notably, these reductions also apply to the recently introduced ‘Mid LTV’ range rates at 82.5%, 87.5%, and 92.5% LTV.

For those interested in the Select products, the five-year fixed rates now begin at a competitive 5.29%, with two-year fixed rates starting from 5.79% at 75% LTV, both requiring a fee of £999. For the Core range, the five-year fixed rate now starts at 5.44%, and the two-year fixed rate at 5.84%, both at 70% LTV with the same fee.

Buy-to-Let Rate Reductions

Kensington is also making it easier for buy-to-let investors to secure funding by lowering rates by up to 0.40% (40 basis points) across its portfolio, which includes options for limited companies, Houses in Multiple Occupation (HMO), and Multi-Unit Blocks (MUB).

Special Buy-to-Let Offers

For special buy-to-let products, the reductions are quite substantial. A two-year fixed rate at 70% LTV now starts as low as 4.15%, while a five-year fixed rate at 75% LTV has been cut to 4.69%. Both these rates include a substantial 5% fee but come with the perk of a free property valuation.

A Commitment to Competitive Rates

Vicki Harris, the Chief Commercial Officer at Kensington Mortgages, emphasised the company’s dedication to maintaining competitive rates in the specialist mortgage market. She stated, “Across our entire product range, Kensington continues to offer some of the most competitive rates available on the specialist mortgage market, underpinned by market-leading customer service.” With these latest reductions, Kensington aims to expand mortgage accessibility to a broader audience, ensuring more individuals and investors can benefit from their products.