Kensington has launched a limited tranche of 90 per cent loan-to-value products available exclusively through Legal & General Mortgage Club.
Rates start from 5.79 per cent for a two-year purchase fixed rate and a £999 fee. There is also a two-year fixed rate deal for first-time buyers at 5.99 per cent and a £699 arrangement fee.
There is also a three-year fixed rate purchase deal up to 90 per cent LTV at 6.19 per cent with a £999 arrangement fee and a three-year first-time buyer deal up to 90 per cent LTV at 6.39 per cent and a £699 arrangement fee.
L&G Mortgage Club managing director Ben Thompson (pictured) says: “The market, for understandable reasons over the last few years contracted and in the process became totally risk averse.
“Kensington have brought a new approach and some welcome competition to a flat market, most of all they are, in this example giving customers a much needed chance of stepping onto, or moving up the property ladder, without the need for an impossibly large deposit.”