Kensington cuts mortgage rates

Mortgage lender Kensington claims to be offering a reward to its specialist borrowers today as it is cutting the rates for its products in its simple choices and extra choices ranges.

The three-year fixed-rate option in the lender’s simple choices range, which is designed for non-conforming and specialist borrowers, has had its rate cut by up to 0.25 per cent, now starting from 6.04 per cent at 90 per cent LTV.

For the three-year discount option in this range, rates have also been cut by 0.25 per cent and start from 5.64 per cent.

Kensington’s extra choices range is reportedly a more detailed offering, to meet the specific needs of non-conforming borrowers.

In this range fixed rates have been reduced by up to 0.3 per cent, with two-year rates starting at 5.64 per cent and three-year options starting from 5.54 per cent.

Introducing the offers, Ian Giles, director of marketing at Kensington, said: “Specialist lenders are well placed to provide solutions for customers with more individual needs, and they are also well placed to change the price of products to help their borrowers as and when they can.

“It is also satisfying that Kensington can beat many competitors’ prices without imposing a higher lending charge…something that many of our rivals continue to burden their borrowers with.”