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Kensington launches new buy-to-let range

Kensington has launched a new range of buy-to-let products, with loan-to-values of up to 85 per cent.

The products require rental cover of 120 per cent of the mortgage payment and rates start from 5.24 per cent.

Borrowers have a choice of whether they would like to pay the product fee as either a flat rate or a percentage of the loan.

The range includes a two-year fixed rate mortgage at 5.24 per cent up to 75 per cent LTV with a 2.5 per cent fee, or borrowers can opt for a flat fee of £1,499 but pay 5.74 per cent.

At 85 per cent LTV there is a two-year fixed rate mortgage at 5.99 per cent with a 2.5 per cent fee. At 80 per cent LTV customers can choose between a two-year fixed rate at 5.69 per cent with a 2.5 per cent fee or go for a 5.99 per cent rate with a flat fee of £1,499.

Kensington head of sales and product development Charles Morley says: “The problem for landlords is that, up until now, there have been few products that have really played to those areas of the market where there is demand.

“But with our new buy-to-let range, Kensington has targeted those areas of demand – providing landlords with the ability to borrow at keener rates.”

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