Kensington Mortgages has launched a series of new 2-year fixed rates within its buy-to-let (BTL) Prime range.
The new products, available to individual landlords, limited companies and those investing in houses in multiple occupation (HMO) or multi-unit block (MUB) properties, respond to rising demand for shorter-term options.
Rates in the new range start at 3.89% up to 75% loan-to-value (LTV) with a 3% fee and free valuation.
Other options include rates at 4.54% with a 2% fee, 4.59% with a £4,000 fee, 4.79% with a £1,999 fee and 5.49% with no fee.
HMO and MUB rates begin at 4.44% at 75% LTV with a 3% fee and free valuation.
All products are available for purchase and remortgage up to 75% LTV and assessed at the higher of either the initial pay rate plus 2% or 5.5%.
Kensington has also announced that free valuations will now apply across its entire BTL range.
Based on average Q3 applications, this could save landlords around £300 for standard BTL valuations and around £655 for HMO or MUB valuations.
Andy Bickers, commercial director at Kensington Mortgages, said: “Our new 2-year BTL Prime products have been designed in direct response to broker feedback and reflect our commitment to giving landlords the choice and flexibility they need.
“While our rates are highly competitive, what truly sets Kensington apart is the quality of our process and the support we provide to our broker partners.”
