Kensington Mortgages has launched a Mid LTV range for customers who sit within traditional 5% incremental loan-to-value brackets.
The specialist lender has added 82.5%, 87.5%, and 92.5% LTVs to its existing high LTV options at 80%, 85%, 90%, and 95%.
The new products are available to customers who meet Kensington’s Select criteria.
The business offers a two-year 82.5% LTV offers a 6.27% rate, with a £999 fee, or a 6.52% rate with a free valuation for purchase customers and a free valuation, as well as free legals, or £250 cashback for remortgage customers.
The firm’s five-year 82.5% LTV includes an option, with a 6.07% rate and £999 fee or a 6.17% rate, with a free valuation for purchase customers and, for those remortgaging, a free valuation and free legals, or £250 cashback.
Its two-year 87.5% LTV at 6.74% comes with a £999 fee, or a 6.99% rate with a free valuation for purchase customers or, for remortgage customers, a free valuation as well as £250 cashback, or free legals.
The five-year 87.5% LTV offers a 6.62% rate with the same incentives, or a 6.47% rate, with a £999 fee.
The lender’s two-year 92.5% LTV, which is for purchase customers only, offers a 7.24% rate with a free valuation and £999 fee, or a 7.47% rate with a free valuation and no fee.
In addition, its five-year 92.5% LTV, also only for purchase customers, offers a 6.79% rate with a £999 fee and free valuation, or a 6.99% rate with no fee and free valuation.
Kensington Mortgages chief commercial officer Vicki Harris says: “The new offering aims to ensure that customers can access the right product for their specific needs and that they are not forced into a higher LTV when making their purchase, so they effectively only pay for what they need.”
