Is this Kensington deal any good?

hopeful_2

This is from a key facts we were given. Someone said Kensington are only for adverse credit borrowers, is that right. Also are all the fees here normal?

These are the key facts:
The Interest Rate is a fixed rate of 5.99% for 36 months

[FONT=Arial,Bold]What fees must you pay? Fee amount
[FONT=Arial,Bold]Fees payable to Kensington Mortgages
Telegraphic Transfer fee £35.00
Completion fee (£1,995.00
Deeds Release Fee (£45.00
Redemption Administration Fee (£145.00
Local Authority Search Indemnity fee £45.00
[FONT=Arial,Bold]Other Fees[/FONT]
Legal fee paid to your conveyancer before the loan starts which is not refundable. The figure
quoted here is an estimate – the total fee for conveyancing may be higher.
£150.00
Application fee payable to The Mortgage Directory on application and not refundable. £100.00
Valuation fee payable to The Mortgage Directory on application and not refundable. £205.00
Arrangement fee payable to The Mortgage Directory for arranging the mortgage paid on
completion and not refundable.
£1,250.00
You may have to pay other taxes or costs in addition to any fees shown here

Thanks
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Stuckupahill

Do yourself a favour ...do a search for Kensington on these message boards...lookout especially for some of the nightmare stories people have written about them (interest rates doubling!!) then see if you think it's still a good idea. They sound best avoided to me.....

herbiesjp

There are plenty of better deals out there.

I also would use a broker that did not charge the broker fees listed - how much is the mortgage amount you are looking to borrow?

m5nvb

Britannia are doing a 3yr fixed rate of 5.69% and the arranegemtn fee is only £499 I think. No idea what they're like as a company but worth checking out. It seems to be one of the best deals I have found when searching online for myself.

karen321_2

I was with Kensington for the last 3 years and yeas they are a company that if you have credit problems consider you for a mortgage. I was with them for 3 years before transferring this year to another company Gmac. I had a good mortgage with kensington but after the tiome period the interest rose to 9%. thats why we have changed and my new rate is 5%. If you can't get a mortgage anywhere else, kensington are a good starting point.