Kensington cuts rates on BTL products

Kensington Mortgages has cut its rates on buy-to-let mortgage products.

The reductions consist of the 70 per cent LTV two-year fix having been cut from 2.58 per cent to 2.54 per cent, and the 70 per cent LTV five-year fixed rate offer, which has been reduced from 3.68 per cent to 3.64 per cent.

In addition, the lender has sliced rates on the 75 per cent LTV two-year fix from 2.73 per cent to 2.69 per cent, and the 75 per cent LTV five-year fixed product from 3.83 per cent to 3.79 per cent.

The 80 per cent LTV two-year fixed rate offer has also been cut, from 3.49 per cent to 3.24 per cent, and the 80 per cent LTV five-year fix has been chopped from 4.34 per cent to 4.09 per cent.

The society will also now offer £250 cashback, and free valuation on residential and BTL products including limited company remortgages.

Furthermore, Kensington has also announced cuts of up to 0.4 per cent across its houses of multiple occupation and multi-purpose blocks BTL range, for purchase and remortgage.

Kensington Mortgages new business director Craig McKinlay comments: “The private rental sector is a vital part of our housing market.

“These rate cuts will provide BTL landlords and the brokers who support them with greater flexibility.”

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