Kensington Mortgages has enhanced its large loan offering ranging from £500,000 up to £2 million.

The lender said the move is to help provide customers with more flexible borrowing opportunities.

It has also launched a new three-year fixed option, adding to its existing two and five-year fixed rate products.

All loans are available over purchase and remortgage and come with a free valuation.

Rates are up to 20 basis points lower than Kensington’s Select rates, ranging from 5.89% to 6.89%. Kensington has also introduced set fees of either £1,499 or £1,999 for its large loan range.

Kensington’s enhanced offering will be supported by a dedicated team of experienced senior underwriters and underpinned by its industry-leading standards of service.

Kensington Mortgages chief commercial officer Vicki Harris said: “By enhancing the criteria of our large loan offering and expanding our product range, Kensington is aiming to provide a greater number of options for brokers when supporting their residential clients.

“We’ve also introduced set fees to make work easier for our intermediary partners and to simplify the borrowing process for customers. The refinement of our offering furthers Kensington’s goal of meeting the diverse needs of borrowers and providing an inclusive offering in a complex mortgage market.”

Kensington, which has over 25 years’ experience, is the UK’s leading residential specialist mortgage lender. The lender is part of the wider Barclays Group after it was acquired in March 2023.

It serves customers from the fast-growing segments such as the self-employed, contract workers, multiple income applicants and those who have a small blip on their credit file.