Anyone recently completed a Kensington Mortgage?

electroman

Good morning all,

My wife and I each have a default that was registered in 2009 with RBS. They are almost paid off in full.

We are looking at getting a mortgage and our broker (L&C) have recommended The Kensington.

I can see that they have an awful reputation with moving goal posts and asking for all sorts of documentation and explanations etc.

I don't mind providing them with whatever they want as I realise not many lenders accept you with a current live default. The one thing I don't want to do is go down this road just for them to say 'no thanks' at the end.

Has anyone recently completed with The Kensington if so what was your experience of them?

Thank you

Senior_Paper_Monitor

Like all 'adverse orientated' lenders their underwriting is thorough and detailed and well packaged documentation is vital.


We use them quite a lot and frankly I don't have any great difficulty with their processing - but its never quick and supplementary questions are always likely.


Kensington have operated in several different existences (the current one is worlds removed from the heavy adverse and somewhat heavy handed administration of its earlier life) - and appear on the verge of a new one, probably owned by one of the mainstream lenders.

electroman

Ok, thanks.

How long would you say the average Kensington mortgage takes? From application to completion?

ACG

Ive used them twice in the last 6 months.
Theyre not the easiest lender to deal with and were not the quickest either, but they/we got there in the end.

I think it was taking around 2-3 weeks to get an offer.

electroman

ACG wrote: »

Ive used them twice in the last 6 months.
Theyre not the easiest lender to deal with and were not the quickest either, but they/we got there in the end.

I think it was taking around 2-3 weeks to get an offer.

Thanks, I guess its just one of those thing I will have to put up with!!

Dave_Ham

Given the current climate and these are a lender we use extensively, I would be very surprised if you can get an offer in 2-3 weeks now.

It is therefore not a case of putting up with it, this would be best case example.

They are fussy on their documentation and do want the absolute details, although they are clear in requirements and you and broker can help yourselves by getting all the information to them right first time.

It is essential the case is keyed accurately.

ACG

I havnt used them for around 3-4 months so Dave will know better than i do on this.

Just be thankful its your broker dealing with them and not you.

electroman

ACG wrote: »

I havnt used them for around 3-4 months so Dave will know better than i do on this.

Just be thankful its your broker dealing with them and not you.

Haha! Thank you both.

Senior_Paper_Monitor

I'm with Dave on this one - we are currently managing client expectations with "about a month to offer" with Kensington, it can be quicker but I wouldn't want to take the blame if it wasn't !!

amnblog

If cases 'trip up' with Kensington they can stick for some time before they move forward again.

We have one at the moment where the employer miss-stated the applicant's employment status. Between KMC and the employer they are driving us all to despair.

Sometimes problems cannot be foreseen.

However, with defaults on your record it may well be 'Hobsons Choice'