Kensington Mortgages specialises in lending to those who may find it hard to secure a mortgage elsewhere, such as self-employed buyers or applicants with historic credit problems. Kensington Mortgages assesses each application on a case-by-case basis – never with an automated system – and tries to lend to anyone who fits the criteria for one of their mortgage schemes.
Overall representative example If you borrow £178,000 mortgage over 25 years initially at 4.49% fixed for 60 months reverting to 7.99% variable for term. 60 monthly payments of £988.37 and 240 monthly payments of £1306.89. Total amount payable £373,335.80 includes loan amount, interest of £194,956, valuation fees of £0 and product fees of £0. The overall cost for comparison is 6.7% APRC representative.
Think carefully before securing debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage.
What types of mortgages can I get with Kensington Mortgages?
Fixed rate Your mortgage rate will remain locked for a set amount of time, then switch to the lender’s standard variable rate.
Remortgages You can switch away from your existing mortgage provider to Kensington Mortgages via one of its remortgage products.
Buy to let With this mortgage, you can borrow money to buy an additionap property and let it out.
Let to buy This mortgage will allow you to let out your home while you’re in the process of selling it.
How to apply
You can get the ball rolling by calling 0800 111 020 or emailing service@kensingtonmortgages.co.uk.
What information is needed to apply?
You’ll need to provide proof of identity, proof of address and details of your financial history. This will need to be backed up by payslips and recent bank statements. If you’re self-employed or a contract worker, you’ll need to provide 12 months worth of accounts.
Eligibility criteria
You must be at least 21 years old, and no older than 75 when the mortgage term is due to end. You’ll need a minimum annual income of £35,000, or £50,000 for a joint mortgage.
If you have unspent criminal convictions or took a payday loan in the past 12 months, you’ll be declined. Applicants who have suffered CCJs and defaults may be considered.
Contact information
You can make general queries by calling 0800 111 020 or emailing broker.queries@kensingtonmortgages.co.uk.
Frequently asked questions
Yes, although you may face an early repayment charge in certain scenarios. Check the terms of your specific mortgage.
You can expect to be offered a mortgage in principle in 48 hours and a full offer within 18 days.
The minimum loan amount is £25,001. The maximum loan amount is £50,000.
The lender currently doesn’t offer further advances.
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Matthew Boyle is a banking and mortgages publisher at Finder. He has a 7-year history of publishing helpful guides to assist consumers in making better decisions. In his spare time, you will find him walking in the Norfolk countryside admiring the local wildlife.
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