Kensington contractor mortgages help more buyers to purchase homes.
The specialist lender Kensington has announced the release of new contractor mortgages to help more contract workers purchase property.
The products in the lender's range are available to any worker who has been contracting for 12 months. Annual income is calculated as a weekly rate of pay multiplied by 46 weeks.
Mortgages are on offer for up to 80% loan to value on 2 and 3 year fixed terms.
Range highlights include:
- A 2 year fixed rate mortgage for 75% LTV at 3.44%
- A 2 year fixed rate mortgage for 80% LTV at 3.99%
- A 2 year fixed rate mortgage for 85% LTV at 4.74%
- A 3 year fixed rate mortgage for 75% LTV at 3.64%
- A 3 year fixed rate mortgage for 80% LTV at 4.19%
The mortgages on offer all come with a £100 admin fee and a £999 completion fee. After the initial fixed rate period the rates revert to 4.3% + Libor.
Kensington advises that it has launched its range of mortgages in recognition of the growing importance of contractors in the workplace.
If you are a contractor and you are looking for a mortgage, you are advised to call Deal Direct and speak to an expert adviser on 0800 048 8828.
We can review all contractor mortgages market-wide to find you the best deal for your deposit level and financial circumstances.
Call today on 0800 048 8828 for free impartial advice and a low rate quote.
Article published: Friday, January 24, 2014
