Kensington has made its full launch into the specialist prime market.
The lender has been piloting prime self-cert and buy-to-let over the past six months but has unleashed them onto the market from today.
Kensington’s message to brokers is that it can now provide any mortgage other than mainstream prime.
Its self-cert deals start at 5.45 per cent with a maximum loan-to-value of 90 per cent, and BTL at 5.5 per cent with the same maximum LTV. All the prime products come with a fees-free option but the lender insists it is not running a loss leader.
It is also running a prime range that it describes as a verified alternative to self-cert with a 95 per cent LTV max and 100 per cent of all earned income taken into account.
The same products are available direct to brokers and via packagers, and is available on the lender’s trading platform K-net.
Kensington marketing director Ian Giles says: “We are saying that these niches in the market are ours and that bit of business is ours and we are the lender brokers should come to on this. Because we have been lending to self-employed people with credit problems for 12 years it is not a big leap of faith as it has worked in the adverse sector.”