Kensington increases buy to let mortgage limits.
News in the buy to let market has not been entirely positive since 01 April, however the Kensington has released the news that it has increased its maximum loan level on buy to let mortgages. Deals are now available up to £1.5 million.
A spokesperson for the lender commented on this move, advising that it has also decided to amend its terms because it feels larger loans are often complicated. For this reason, each application will be individually assessed by an underwriter. With changes to buy to let all investment mortgages will now be assessed in this manner, that way every application is fairly reviewed.
If you are looking for a buy to let mortgage or want mortgage advice, please call us at Deal Direct. We are fully qualified to offer mortgage advice, however we are not regulated to offer advice as to the suitability of property as an investment. For general financial advice you will need to contact an independent financial adviser.
Please note:
Buy to let mortgage applications from:
- applicants whose intention is to benefit from house price growth
- applicants whose intention is to benefit from rental income
- applicants who are letting to buy
will be treated as normal buy to let and not as a consumer buy to let. In addition, their subsequent remortgage applications will also be treated in the same manner.
For a buy to let quote call 0800 048 8828.
