Kensington Mortgages cuts the price of its fixed rates

Kensington Mortgages has cut the price of its fixed rates and introduced a new range of market leading 85% LTV deals as part of a revamp of its entire product range.

Kensington’s fixed rate products have been cut by up to 0.25%, despite the recent increase in Bank of England Base Rate and money market swap rates, and Near Prime fixed rate deals are now available from as little as 5.29%.

Following direct feedback from intermediaries, Kensington is also introducing a new 85% LTV tier of products for Near Prime, Near Prime Max, Very Low and Medium Adverse customers with fixed rates available from 5.89%. Elsewhere, Medium Adverse customers can now remortgage up to 85% with no loading, and we have removed the remortgage loading on High Or and High And products at 65% LTV.

And Kensington is continuing to offer free valuations on all products in its core range placed direct with the lender, as well as working with its key packager partners to provide tailored incentives on packaged products.

Ian Giles, Director of Marketing at Kensington Mortgages, said: “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. By cutting our fixed rates, introducing a new 85% LTV tier and removing the loadings on some of our remortgage products we’re making it easier for people to switch their deal and sort out their finances in time for Christmas. And, by continuing our commitment to no Higher Lending Charges (HLCs) on any of these products, we’re giving our customers something else to be cheerful about this festive season.”