Specialist lender Kensington Mortgages has slashed interest on one of its fixed-rate mortgage ranges as part of an ongoing initiative to update its home loan offerings.
Interest on the provider's 85 per cent loan to value (LTV) mortgages has been cut by up to a quarter point, notwithstanding the Bank of England's decision to increase the base rate last month.
Repayments on near-prime fixed-rate mortgages are now charged from 5.29 per cent.Revamped products for very low to medium adverse credit customers in Kensington's near-prime and so-called 'near-prime max' mortgage ranges feature rates starting at 5.89 per cent, with loans of up to 85 per cent LTV available.
"By cutting our fixed rates, introducing a new 85 per cent LTV tier and removing the loadings on some of our remortgage products we're making it easier for people to switch their deal and sort out their finances in time for Christmas," said Ian Giles, Kensington's director of marketing.The provider was committed to no charges for higher lending, he added.
