Kensington Mortgages will now offer buy-to-let mortgages to those buying through limited companies.
Kensington will offer LTVs of up to 80 per cent on this new mortgage range. Only the property portfolio of the limited company is assessed, and standard rates will apply from 3.14 per cent for a two-year fix at 70 per cent LTV.
To support these new customers, Kensington will introduce a simpler process for portfolio verification.
This change is part of a wider review of its mortgage proposition, which includes higher LTVs and loan values across its residential mortgage and buy-to-let ranges.
The maximum residential loan size will now be £1m at 90 per cent LTV (on its select premium large loan range) in additional to 90 per cent LTV mortgages on new build houses and flats, and right-to-buy flats.
Kensington will also offer maximum loan amounts of £2m up to 80 per cent LTV. On its ‘select’ and ‘core’ mortgage ranges maximum loan sizes have been raised to £2m up to 80 per cent LTV, and £500,000 up to 90 per cent LTVs.
These range of new products, including limited company buy-to-let, will be available from 17 May.
Kensington Mortgages sales and marketing director Craig McKinlay says: “These latest changes to our mortgage proposition reinforces our commitment to a growing specialist lending market, as we open up our range to new customers and provide more flexibility for borrowers with complex incomes.”
