Kensington lowers RESI and BTL rates, Furness Trims Resi, BTL and Holiday Lets – Staking Strategy

Interest rates within the residential range of Kensington mortgages have been reduced by up to 55 basis points, while purchase (BTL) mortgages can reach up to 1555bps.

Now, the new prices for its residential choice products start from 65% and 75% loan to value (LTV), 6.09% for 90% LTV and 6.44% for 95% LTV, and now start from 5.29%.

For its special rates on residence, a cash back of £1,000 is offered, with a 65% LTV fixed at 5.39% for two years, a fee of £1,499, a fee of £1,499 and a free valuation.

Of its 95% LTV specials, it offers a fixed rate of 7.24% in two years, a fixed rate of 7.14% for three years and a fixed rate of 6.79% for five years.

All special 95% LTV rates include no fees and free valuations.

In addition, landlord customers in the core and major BTL ranges lower interest rates.

Kensington’s core rate now offers 70% LTV, starting at 3.19%, while its advantage rate offers 75% LTV starting at 4.39%.

Both are available for individuals and limited liabilities, including the same pricing and fees.

“The introduction of lower interest rates in our residential and BTL products further strengthens the competitiveness of Kensington’s claims,” ​​said Andy Bickers, Commercial Director of Kensington Mortgage.

Elsewhere, Furness Building Society lowers interest rates on its full range of residential, BTL and holiday mortgages.

The updated range includes up to 90% of residential cases with LTV at a two-year fixed rate of 4.55%.

Within shared ownership, the interest rate is now only 4.24%, and the product offers a 95% loan (75% LTV).

“We know how important it is for a broker to provide a broker with options for a broker for clients who need a more personal approach,” said Jonathan Cartlidge, member and head of broker strategy at Furness Building Society.

“Whether it’s first-time buyers using shared ownership or someone with non-standard income, our underwriters take the time to understand the case. In all of our key product areas, these new fees are another way we make it easier for brokers to place these trickier cases.”