Editor's note: This brief was summarised by The Property AI Newsroom from a report by Mortgage Solutions. Read the original article for full details.

Kensington Mortgages Cuts Buy-to-Let Rates Across Multiple Ranges

Kensington Mortgages has announced rate reductions of up to 25 basis points across its buy-to-let (BTL) mortgage range. The changes affect Prime, Prime eKo, Core, house in multiple occupation (HMO), and multi-unit freehold block (MUB) products, with new rates available for both 75% and 80% loan-to-value (LTV) deals.

For the Prime range, 75% LTV two-year fixed rates now start from 3.49% with a 5% fee. Other options include 4.14% with a 3% fee and 5.63% with no fee. Five-year fixed rates at 75% LTV now start from 4.59% with a 5% fee, with additional choices at 4.82% with a 3% fee, 5.12% with a £4,000 fee, 5.22% with a £1,499 fee, and 5.34% with no fee.

Kensington Mortgages has also reduced rates for its Prime HMO and MUB range, which are available in England, Scotland, and Wales. Landlords can now access five-year fixed rates at 75% LTV at 4.84% with a 5% fee and 5.09% with a 3% fee.

Earlier in June, Kensington Mortgages hired two new business development managers (BDMs). The company states that it continues to focus on providing broker support, with brokers able to reach a desk business development manager in under a minute on average.

These changes may be relevant to letting agents and inventory clerks monitoring mortgage product shifts that could impact landlord clients and the wider UK rental market.