Kensington mortgage on a new build PX - do they do this?

starrybear

Hi,

Just wondered if anyone with knowledge of how Kensington work, knows if they would do 90% LTV on a new build PX?

Their lending criteria on the website says not, but my broker thinks it might be a go-er. I know they can look at individual cases, so can I dare to hope?

Thanks in advance

ACG

Kensington do have a 90% product through selected brokers. I have no idea about the part ex/new build but if your broker is confident it can be done why not trust them? Its not good business to make applications knowing they will not get accepted.

starrybear

Thank you - I appreciate the advice. I'm cautious as I've recently been lead up the garden path to the point of being so confident that I've parted with a reservation fee. This could well be last-chance saloon, so I was just looking for reassurance! Have you any idea of the ballpark rate I'd be looking at? Am guessing north of 6%?

Thanks

Senior_Paper_Monitor

5.39% 2 yr fixed - no fees (4.99% with £1300 fee)

ACG

I would be surprised if Kensington were last chance saloon.

I seem to recall having a similar case last year (although can not recall the finer details) and that ended up with a quirky little building society. I think the rate was 5.99% so just under the 6% mark.

David_White

I don't have any experience of that exact scenario however Kensington are the kind of lender that you can pick up the phone to and have a proper conversation about whether a case is possible or not.

Assuming your broker has done that you should be alright.

Verix

Kensington would be 85% LTV on a new build normally.

starrybear

Thanks all. Fingers crossed that the new broker has looked at everything in detail this time round.

Verix- that was the info I found, and the reason I'm feeling so skittish. Will find out tomorrow...