85% buy to let mortgages return.

Conrad

New range of Buy-to-Let products launched from Kensington today

· Rates start from 5.24%
· Max 85% LTV
· 2 & 3 year fixed rates available
· Arrangements fee 2.50% or £1,499 (dependent on product)
· New build flats accepted (up to 65% LTV)
· Rental calculation 120% @ payrate
· First time landlords accepted
For further details visit www.kmc.co.uk to download a BTL product guide or contact the Broker Support Team on 0845 130 2223

AD9898_2

I think I might lend a landlord money from my savings with deals like that, freaking hideous. I bet that 'starting rate' won't be available to LL's with LTV of 85% either.

abaxas

Conrad wrote: »

New range of Buy-to-Let products launched from Kensington today

· Rates start from 5.24%
· Max 85% LTV
· 2 & 3 year fixed rates available
· Arrangements fee 2.50% or £1,499 (dependent on product)
· New build flats accepted (up to 65% LTV)
· Rental calculation 120% @ payrate
· First time landlords accepted
For further details visit www.kmc.co.uk to download a BTL product guide or contact the Broker Support Team on 0845 130 2223

· Arrangements fee 2.50% or £1,499 (dependent on product)

So APR is nowhere near the 5.24%

Graham_Devon

I'd love to go into Tesco and face a £20 arrangement fee for me to be able to use their services

It only seems to be financial services that charge you if you want to use their services, and then charge you again for the service.

Sibley

This is yet another clear indication that it's business as usual in the housing market. Crashers have been squashed. Simple.

danielanthony

Who in their right mind would take up an offer like this?

Graham_Devon

danielanthony wrote: »

Who in their right mind would take up an offer like this?

See poster above.

wherediditallgothen

Graham_Devon wrote: »

See poster above.

One of the ones who considers this sort of thing is Kleenex news.

bingobob777

5.24% for 2 years - great
2.5% fee - great
0.4% broker fee - great

And on top of that a depreciating asset. Mugs.

Thrugelmir

Sibley wrote: »

This is yet another clear indication that it's business as usual in the housing market. Crashers have been squashed. Simple.

At the total cost of the product on offer looks more like Kensington are targeting those struggling to raise finance elsewhere.

IveSeenTheLight

One of the majorchanges in recent years is the massive increase in the arrangement fee.
It was not the case in 2007.

Really with arrangement fees to that level, it's not worth a 2 / 3 year fix.