Kensington Mortgages has launched its new range of ‘brighter mortgages’ for both young professionals and later-life borrowers.
The two new products have been designed as part of the lender’s aim to cater for all types of borrowers at different life stages.
The young professional’s product offers enhanced affordability and is specifically designed for chartered accountants, actuaries, barristers, commercial pilots, dentists, medical doctors and solicitors.
To qualify, applicants must be registered with the appropriate UK professional body and practising in the field.
Young professionals applying for a mortgage up to 85% LTV can consider Kensington’s young professional range, with rates from 3.14% on a two-year fix at 75% LTV.
Single applicants need a minimum income of £35,000 and a joint application requires a minimum income of £50,000.
The later-life product is aimed at borrowers over the age of 55 who are looking to take their mortgage into retirement and potentially beyond the age of 75.
This product will be offered on a two-, five- and 10-year fixed rate, with the 10-year products benefiting from a shorter five-year ERC.
Borrowers can select up to 70% LTV on a repayment basis and the maximum age at the end of term is 89 years old.
“We’re committed to helping borrowers at every career and life stage with our forward-thinking mortgages,” said Craig McKinlay, new business director at Kensington Mortgages (pictured above).
“This means providing tailored products for all stages of the customer lifecycle, as well as helping the UK’s young professionals step on to the property ladder, whether they are already established or just embarking on their careers.
“Our latest product ranges open up new opportunities for our intermediaries and their clients and we’re confident these latest offerings will be greeted positively by our broker partners.”
SIGN UP TO OUR NEWSLETTER TO RECEIVE MORE NEWS LIKE THIS STORY
Santander to close 140 branches
Santander has announced that it plans to close 140 branches in the UK as it reshapes its branch network...
British Business Bank UK Network aims to improve funding awareness across UK
The British Business Bank UK Network will help to improve awareness of funding options across the UK by directly approaching business finance professionals...
Building with confidence in challenging times
It is difficult to think of a time in the past three decades when the chasm between the interests of UK business and the Palace of Westminster has been more exposed than the Brexit debacle...
Real Property Finance passes £100m in deals with Cambridge & Counties Bank
Cambridge & Counties Bank has provided more than £100m of loans for the clients of Real Property Finance (RPF)...
Metro Bank reports 48% increase in lending
Metro Bank has reported that its lending increased by 48% in 2018 compared with 2017...
Metro Bank appoints Luke Lloyd-Davies to advisory board
Metro Bank has appointed Luke Lloyd-Davies to its advisory board...
OakNorth: how some of the entrepreneurs we’ve lent to first got started
For many, the new year brings with it new possibilities and the chance to explore new opportunities...
Hanley Economic BS to push self-build offering
Hanley Economic Building Society is set to commence an extensive 2019 self-build campaign as it aims to engage with growing numbers of self-builders...
NatWest offers Esme Loans directly to its SME customers
NatWest will now offer Esme Loans products directly to its existing SME customers...
OSB appoints new NED
OneSavings Bank has announced that it has appointed Sarah Hedger as a non-executive director, with effect from 1st February...
Tandem Bank reaches 500,000 customers
Tandem has announced that it has reached 500,000 customers one year on from being granted a full banking licence...