Kensington Mortgages has cut rates by up to 75 basis points (bps) as well as offering cashback on all residential and buy-to-let products.

The specialist mortgage lender said select rates have been reduced by up to 31bps across its 65% to 85% LTV products. Core rates have been lowered by up to 70bps across 70% to 85% LTV products.  

And rates across Kensington’s large loan, Young Professionals, Hero, eKo, and Right to Buy mortgages have been reduced by up to 75bps.

The lender said its lowest residential rates include 65% LTV five-year fixed rate at 5.59% and 65% LTV two-year fix at 5.89%. Both offerings include a £999 fee and £500 cashback.

Kensington’s large loan products include its 75% LTV five-year fixed rate at 5.59% and 75% LTV two-year fixed rate at 5.89%. They now include a fee of £1,999, a free valuation, and £250 cashback.

The lender’s Hero mortgages now offer a 75% LTV five-year fix at 5.69% as well as a 75% LTV two-year fix at 5.99%. Both come with a £999 fee and offer £250 cashback.

Kensington also said all its residential and buy-to-let (BTL) mortgages will include a minimum £250 cashback until the end of January 2024.

The new offering comprises both fixed and tracker mortgages as well as all LTVs, purchase, and remortgage products.

Cashback will be paid on completion except for Kensington’s eKo £1,000 Cashback Mortgage, which is paid on qualification in line with standard product terms.

Kensington Mortgages chief commercial officer Vicki Harris said:“These developments to our offering aim to help more people to realise their aspiration of owning a home and support those looking to remortgage. Over the next twelve months, we look forward to continuing to innovate across our product range and delivering quality service for our clients.”