Kensington Mortgages has enhanced its large loan offering, in a move to help provide customers with more flexible borrowing opportunities.
Kensington is offering large loans ranging from £500,000 up to £2m and has also launched a new 3-year fixed option, adding to its existing 2- and 5-year fixed rate products.
All loans are available over purchase and remortgage and come with a free valuation.
Rates are up to 20 basis points (bps) lower than Kensington’s Select rates, ranging from 5.89% to 6.89%. Kensington has also introduced set fees of either £1,499 or £1,999 for its large loan range.
Vicki Harris, chief commercial officer at Kensington Mortgages, said: “By enhancing the criteria of our large loan offering and expanding our product range, Kensington is aiming to provide a greater number of options for brokers when supporting their residential clients.
“We’ve also introduced set fees to make work easier for our intermediary partners and to simplify the borrowing process for customers.
“The refinement of our offering furthers Kensington’s goal of meeting the diverse needs of borrowers and providing an inclusive offering in a complex mortgage market.”
