Kensington Mortgage Co

absco14

Hi All,


First time posting just hoping for some people to share their experiences if they have dealt with a mortgage application through Kensington before.


My partner has his DIP from Kensington against a 75K house. He will be sending the usual P60, 3bank statements, 3 payslips and ID next week.


He has previously had bad credit. Mainly a default 6 years ago (this will drop off in Dec) and payday loans in the past.
Credit score isn't great but everything is paid on time now and it is improving monthly.
Earns a good wage and affordability is not a problem.


I am of the understanding Kensington is a 'bad credit' mortgage company so hoping we shouldn't face too many issues.


Their website seems to make out like its a quick simple process but I doubt that is the case.


Could anyone share their thoughts/experiences on the company and process?

muhandis

From the Kensington webpage listing applicant exclusions https://www.kensingtonmortgages.co.uk/intermediaries/lending-policy-search-tool

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We are unable to accept applications from applicants with the following circumstances:

Payday loans within last 12 months

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But if you were placed with Kensington by a broker who was aware of the recent payday loan, maybe there is some flexibility?

absco14 wrote: »

and payday loans in the past. An emergency one at the beginning of the year was his last one which is now paid and gone

amnblog

It's a bit like asking what is the 'journey into Town like'.

Everyone will have a different answer. Depends where you start from, how you are getting there, when you leave, and your attitude to the journey.

KMC deal in complex cases which your Partner has, so a 'smooth' ride is unrealistic. Important to remember they need to say yes often to stay in business.