Kensington cuts eKo rates and reduces pricing across residential and btl ranges
Kensington Mortgages has lowered rates across its eKo range and introduced further reductions across its wider residential and buy-to-let products, alongside higher maximum loan sizes on selected propositions.
Kensington Mortgages has announced a series of rate reductions across its eKo mortgages, alongside pricing cuts across its wider residential and buy-to-let ranges.
Within the eKo range, Kensington has replaced its £500 cashback offer for residential and btl clients purchasing or remortgaging energy-efficient properties with lower headline rates on selected products. The revised eKo rates are now priced 5% lower than standard equivalents.
For residential borrowers, Kensington has launched new eKo rates including 2-year fixed products at 5.24% up to 85% LTV and 5.61% up to 90% LTV, alongside 5-year fixed rates at 5.29% up to 85% LTV and 5.67% up to 90% LTV.
All residential eKo products include a £1,499 fee and a free valuation. The lender has also increased maximum residential loan sizes to £1m up to 90% LTV and £1.5m up to 85% LTV.
Kensington has also refreshed its btl eKo range, with all products available up to 75% LTV and including a free valuation.
New 2-year fixed rates include 4.74% with a £1,499 fee, 4.51% with a £4,000 fee, 3.69% with a 3% fee and 5.18% with no fee.
New 5-year fixed options are priced at 4.82% with a £1,499 fee, 4.67% with a £4,000 fee, 4.27% with a 3% fee and 4.94% with no fee.
The maximum loan size for btl eKo mortgages has also been increased to £750,000, from £500,000.
Eligibility for the eKo range requires residential properties to hold an EPC rating of A or B, while btl properties must be rated A, B or C.
Evidence is required via an EPC, or a Predicted Energy Assessment for new build properties.
Alongside the eKo changes, Kensington has reduced rates across its broader residential and btl propositions.
Residential rate reductions of up to 7% have been applied across selected 2-year and 5-year fixed products within its Select, Heroes, Professional and Own New ranges, up to 85% LTV.
Residential 75% LTV 2-year fixed rates now start from 4.79% with a £1,999 fee, while 5-year fixed rates start from 5.01% with a £1,499 fee.
Within buy-to-let, Kensington has implemented cuts of up to 10% across selected 2-year and 5-year fixed Prime and Core products, up to 80% LTV.
This includes 75% LTV 2-year fixed rates at 5.23% with no fee and 4.56% with a £4,000 fee, as well as 75% LTV 5-year fixed rates at 4.72% with a £4,000 fee and 4.87% with a £1,499 fee. Free valuations remain available across all btl products.
Andy Bickers said: “We regularly engage with our broker partners to ensure our propositions are aligned with what matters most to their clients.
“Feedback told us that, particularly in the current market, lower rates would deliver greater long-term value than cashback, which is why we’ve refreshed our eKo range with reduced pricing across selected products.
“Alongside these changes, we’ve also taken the opportunity to lower rates across our wider residential and btl ranges, giving brokers access to more competitive pricing across a broad set of customer needs.
“By combining reduced rates, increased loan sizes, and continued support for energy-efficient properties, we’re strengthening our proposition and helping brokers support more clients with confidence.”
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