Kensington to reprice prime mortgage range
Kensington Mortgages has announced that it will reprice some of its prime mortgage range.
The move, which will come as good news for high-earning professionals such as doctors, architects and investment bankers, could spark a competitive drive-down of prices across the prime mortgage-lending sector.
This follows Kensington's roll-out of several new prime mortgage products throughout its range in September, including self-cert, fixed-rate and buy-to-let.
The lender's latest move accompanies the announcement that it is to withdraw from the subprime mortgage market, which it has pioneered with its specialised Adverse range.
Commenting on September's launches, Keith Street, director of sales at Kensington Mortgages, emphasised the competitive nature of the move.
He said: "In today's environment these rates are great value and evidence that Kensington has the flexibility to give our customers what they want in the specialist prime sector."
Kensington told Finance Markets that it had been forced to act further on its subprime range because of "a lack of appetite among investors for portfolios of adverse debt".
UK specialist buy-to-let lender is the latest company to admit difficulties due to the credit crunch crisis, which has already pushed Northern Rock bank to the brink of administration.
The move, which will come as good news for high-earning professionals such as doctors, architects and investment bankers, could spark a competitive drive-down of prices across the prime mortgage-lending sector.
This follows Kensington's roll-out of several new prime mortgage products throughout its range in September, including self-cert, fixed-rate and buy-to-let.
The lender's latest move accompanies the announcement that it is to withdraw from the subprime mortgage market, which it has pioneered with its specialised Adverse range.
Commenting on September's launches, Keith Street, director of sales at Kensington Mortgages, emphasised the competitive nature of the move.
He said: "In today's environment these rates are great value and evidence that Kensington has the flexibility to give our customers what they want in the specialist prime sector."
Kensington told Finance Markets that it had been forced to act further on its subprime range because of "a lack of appetite among investors for portfolios of adverse debt".
UK specialist buy-to-let lender is the latest company to admit difficulties due to the credit crunch crisis, which has already pushed Northern Rock bank to the brink of administration.
