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Kensington Mortgages – Simple Choices Minor Three Year Discount

Kensington Mortgages

Simple Choices Minor Three Year Discount

Type: Adverse credit discounted-rate mortgage

Discounted term: Three years

Discount: 1.1%

Payable rate: 5.64%

Minimum loan: £25,001

Maximum loan: Up to 90% of valuation subject to a maximum of £300,000, up to 85% of valuation subject to a maximum of £500,000, up to 75% of valuation subject to a maximum of £1m

Income multiples: Up to 3.5 times principal income plus second or three times joint

Conditions: All CCJs and arrears cleared but none in last 12 months, no defaults in last 12 months, 0.3% added to payable rate for self cert, 0.25% added for right-to-buy, 0.5% added for buy-to-let, 0.1% added if flexible features used

Flexible features: Overpayments, underpayments, payment holidays, lump sum withdrawals, interest calculated daily

Arrangement fee: £695

Redemption fee: 6% of the amount repaid in the first three years, thereafter interest until the end of the month

Introducer’s fee: 0.75% of the original loan subject to a £5,000 maximum

Tel: 0800 111020


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