Kensington cuts residential mortgage rates by up to 0.24%

Kensington Mortgages has announced rate reductions across its residential mortgage range, with cuts of up to 0.24% applied to both 2-year and 5-year fixed products.

The reductions apply across Kensington’s Select range, including its Heroes, Professional, eKo and Own New Rate Reducer products, and cover loan-to-value bands from 80% to 95%.

As part of the changes, the lender is now offering 2-year fixed rates at 90% LTV from 5.56% with a £1,999 fee, and 5-year fixed rates at 90% LTV from 5.72% with a £1,499 fee.

At higher LTVs, Kensington’s updated pricing includes 2-year fixed rates at 95% LTV from 5.81% with a £1,999 fee, and 5-year fixed rates at 95% LTV from 6.02% with a £1,499 fee.

The lender has also introduced no-fee options at 95% LTV, with a 2-year fixed rate at 6.59% and a 5-year fixed rate at 6.30%, both of which include £1,000 cashback.

All 95% LTV products come with a free valuation and are available for purchase only. Separately, Kensington has also reduced rates on its Right to Buy range, cutting its 2-year fixed rate by 0.50% and its 5-year fixed rate by 0.15%.