November 2023 Newsletter

November 2023 Newsletter

By Jane Atkins, Head of Intermediary Sales

Welcome to my monthly round-up, a summary of news and updates on what Kensington is doing to help make your lives easier and say yes to more of your clients.

1. Hot off the press! We’ve just released a number of special and reduced rates this morning:

  • Residential Select 65% LTV Specials with enhanced cashback

65% LTV | 5 YR FIX | 5.89% | £999 fee

65% LTV | 2 YR FIX | 6.19% | £999 fee

With free valuation and £500 cashback for purchase, free valuation and either £500 cashback or free legals for remortgage

  • BTL fixed Special rates all including free valuations

70% LTV | 2 YR FIX | 4.19% or 5 YR FIX | 4.79% | 5% fee

75% LTV | 2 YR FIX | 4.64% or 5 YR FIX | 5.04% | 5% fee

  • BTL Tracker Special

75% LTV | 2 YR VARIABLE | 5.60% | 3% fee | free valuation

  • REDUCED rates across BTL and Resi Tracker mortgage

Up to 85% LTV, with free valuations added to all 75% and 80% LTV products

Check out our product guides for all the rates and details, as well as our other Special rates. And with our service levels there’s still time to turn submitted applications into offers before Christmas.


2. My BDMs and I have had some interesting conversations recently about how Kensington can help your customers by maximising affordability, so I have collated some of the key points here:

  • Improved affordability on our 2 and 3 year Fixed rate and Tracker residential product
  • Self-employed: affordability considered on latest year income   
  • Contractor: weekly rate x48
  • CIS, zero hours, and agency workers: 12 month income history
  • Up to 100% variable income: including overtime, commission, bonus
  • Income from Land & Property
  • Term of 40 years
  • Part interest only and part repayment to 90% LTV
  • Lower rates for our Hero Mortgage, Young Professionals and Large Loan (earners over £100k) products

                                                      

3. Have you seen that we have made our Large Loan offering better, for your clients requiring loans between £500k and £2 million:  

  • NEW 3 year fixed rate options, to go with the existing 2 and 5 year fixed rates
  • NEW set fees of £1,499 or £1,999
  • Purchase and Remo
  • Free Val on all loans
  • Dedicated experienced underwriting team
  • Lower rates than our Select range

                                        

4. We recently shared an article written by my colleague Eloise Hall on Maximising the remortgage opportunity, and with an estimated 1.6million mortgages coming to the end of their term in 2024, here’s a reminder of our Product Transfer solution:

  • A seamless end-to-end digital broker portal
  • We email you 4 months before eligible clients’ transfer window opens
  • 0.30% proc fee still paid in the usual way

Source: mpamag.com

              

5. Earlier this week we held our last webinar of the year, ‘Tools and technology to tackle 2024’, featuring guest expert Andrei Lebed from Koodoo and Richard Donnell from Houseful. There was also a panel discussion including Clare Beardmore from Legal & General Mortgage Club, Vikki Jefferies from Primis, Nicola McKenzie from Dunham McCarthy, and Chris Targett from Social for Brokers.

  

6. Finally, as you all know I’m not one for boasting, but I am thrilled to announce that Kensington picked up three awards this month:

  • Your Mortgage Awards: Best Specialist Mortgage Lender – for the second year in a row  
  • Personal Finance Awards: Best Intermediary Lender AND
  • Personal Finance Awards: Best Specialist Lender

                    

And that brings November to a close with a bang! We all know the next few weeks will be Christmas crazy, but I can assure you my team and I are still here to help you with any cases so please don’t hesitate to get in touch.

 If I don’t speak to you until my next newsletter, then I wish you a very merry Christmas, and we look forward to supporting you further in 2024. In the meantime, I'm pleased to share this short video with you on some key highlights we have delivered throughout the year: 2023 Highlights

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