Kensington has made its full launch into the specialist prime market.
The lender has been testing prime self-cert and buy-to-let mortgages over the past six months and rolled them into the wider market last week.
Self-cert deals start at 5.45 per cent with a maximum loan to value of 90 per cent while BTL loans are available from 5.5 per cent with the same maximum LTV. All the prime products come with a fee-free option but the lender insists it is not running a loss-leader.
It also has a prime range that it describes as a verified alternative to self-cert, with 95 per cent maximum LTV and 100 per cent of all earned income taken into account.
The same products are available direct and via packagers, as well as being available on the lender’s K-net platform .
Marketing director Ian Giles says: “We have been lending to self-employed people with credit problems for 12 years so it is not a big leap of faith as it has worked in the adverse sector.”
The Mortgage Times head of product development Richard Stokes says: “We have enjoyed success with this range as the products have been well priced.”