Kensington reduces interest rate for fixed-rate range

01-Dec-2006

Kensington Mortgages has announced a reduction in its rate of interest for fixed-rate mortgage products, potentially benefiting first time buyers with weaker credit histories.

Sub-prime first time buyers and repeat purchasers can now obtain a fixed-rate mortgage from Kensington at an interest rate from 5.29 per cent, following the lender's decision to cut interest rates by 0.25 per cent.

Furthermore, Kensington has also introduced a range of fixed-rate mortgages for all sub-prime customers, featuring a loan-to-value (LTV) of up to 85 per cent.

"Lenders traditionally look at revamping their products in the new year, but as pioneers of the specialist mortgage market we … like to stay one step ahead," said Ian Giles, director of marketing at Kensington Mortgages.

"By cutting our fixed-rates [and introducing an 85 per cent LTV tier] we're making it easier for people to … sort out their finances," he added.

Through intermediaries, Kensington Mortgages is a provider of specialist mortgages.

To find out more about this mortgage, contact a good mortgage broker.

Click here to see what properties are on the market in your area – whether you buy alone or with others.

2008: May | Apr | Mar | Feb | Jan

2007: Dec | Nov | Oct | Sep | Aug | Jul | Jun | May | Apr | Mar | Feb | Jan

2006: Dec | Nov | Oct | Sep | Aug | Jul | Jun | May | Apr | Mar | Feb | Jan

2005: Dec | Nov | Oct | Sep | Aug | Jul | Jun | May | Apr | Mar