This strategy could include sale of property, as long as the rationale behind downsizing makes sense, or it could include the sale of unencumbered second properties or Buy to Let properties.
Kensington can also look at share portfolios, ISAs, investment bonds, endowments, unit trusts and pensions.
Sarah Green, head of sales and Marketing at Kensington, says: “A healthy mortgage market is one that is diverse, with a variety of options for different types of customer. While interest only is certainly not for everyone, it can be the right option for some customers with larger incomes and access to alternative repayment options.
As Kensington underwrites each case on its own merits, we are able to give careful consideration to all of the circumstances around an application. This includes the plausibility of the repayment strategy and a true assessment of all aspects of a customer’s income, including variable income such as bonus, overtime, investment or vested shares.”
