According to the lender, applications from non-owner occupier and first-time buyers will now also be accepted (on condition that one applicant is earning £40,000 or above) and the applicant age has been increased to a maximum of 70 years at application.
Buy-to-let rates now start at 2.69% for a two-year fixed rate at 70% LTV, with a maximum loan value of up to £2 million.
Additionally, loans are are now available up to 75% LTV for HMOs and multi unit freehold blocks up to a maximum loan of £1 million and no minimum overall property value required.
Rates on HMOs and MUBs start from 2.89% for a two-year fixed rate at 65% LTV and both property types can now have six units.
Craig McKinlay, sales and marketing director at Kensington Mortgages, commented: “As one of the UK’s top buy-to-let lenders, this latest upgrade is part of our long-term strategy of enhancing Kensington’s buy-to-let proposition and supporting landlords across England, Wales and Scotland.
With higher LTVs, reduced rates and a wider range of tailored products to choose from, our buy-to-let upgrade will provide landlords with even more flexibility.”
