Kensington’s Resi 12 rates have been reduced by up to 1.08%, with two-year fixed rates now starting from 5.31% and five-year fixed rates from 5.36%, both with a £999 fee.

Kensington’s Resi 6 rates have been cut by up to 1.03%, with two- and five-year fixed rates now starting from 5.61%, both also with a £999 fee.

The new rates are available for both purchase and remortgage customers at a maximum of 85% LTV, with both £999 and no fee options available. No fee options include a free valuation, with remortgage customers also eligible for free legals or £250 cashback.

Kensington’s Resi 12 and Resi 6 mortgages are Kensington’s product ranges for clients who have a more complex credit history and are subject to specific criteria.

Resi 12 clients can have a maximum of two unsecured credit arrears in the last twelve months – if accounts are now up to date – and are required to have had no defaults within the past twelve months and a maximum of one in the previous twenty-four months – of a maximum of £1,500. Clients also cannot have had a missed secured loan or rent payment in the last twelve months, and a maximum of one in the past twenty-four months.

Resi 6 clients are subject to no maximum of unsecured credit arrears – if there have been none in the previous six months and accounts are now up to date – and cannot have had a default within the past six months and a maximum of one in the last twenty-four months – of no more than £1,500.

They cannot have had a missed secured loan or rent payment in the past three months, and a maximum of one in the last twenty-four months. Kensington’s Resi 6 range is not available to first time buyers.

Commenting on the latest product changes Kensington Mortgages commercial director Andy Bickers said: “These latest rate reductions across our Resi 12 and Resi 6 ranges demonstrate our ongoing focus on supporting customers with more complex credit histories, ensuring they have access to specialised, affordable financing solutions.”