Kensington launches into buy to let
The new products are available up to 75 per cent LTV, with two-year fixed rates at 5.69 per cent and three-year fixed rates at 6.19 per cent. The arrangement fee on these deals is 2.50 per cent.
Kensington is targeting experienced landlords who already have at least two buy to let properties. It will allow investors to hold up to 10 properties or £2million with Kensington.
Charles Morley, head of sales and product development at Kensington, said: "The private rental sector is becoming an increasingly important form of housing in this country and buy to let investors have played a significant role in improving quality and affordability for tenants. But tenant demand is growing and as the property market recovers, many landlords are looking to meet this demand and expand their portfolios.
"Kensington's buy to let products are designed to help those landlords who have an appetite to increase their investment, with competitive fixed rates available up to 75 per cent LTV. We'll also allow investors to hold up to 10 properties, or £2 million, with Kensington, which provides considerable opportunity for them to expand their investment."
Date: 19th, May, 2010
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