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First Time Landlord mortgages

Buy to Let mortgages made simple

For landlords certainty is important. They need to know the rent is being paid, and they need certainty that their mortgage lender can assess each case on its own merit.

If you are looking to place a mortgage for a First Time Landlord you can be certain that we will make our lending decisions based on their circumstances, not a credit score.

Product features: 

  • Available with a minimum of 20% deposit

  • New build, including desirable high rise 

  • Decisions made by an underwriter, not a credit score 

Product features:

  • First Time Landlords who are self-employed 
  • First Time Landlords who are contractors
  • First Time Landlords who have failed a credit score 

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Product guide

Rates

70% LTV

Rate Type / Term Rate Feature  Completion Fee
(can be added)
Maximum Loan Reversion
2 Year Fixed
2.74% None ​1.50% £1.5 million LIBOR plus 4.30%*
3 Year Fixed
​3.14% None ​1.50% £1.5 million LIBOR plus 4.30%*
2 Year Fixed 2.99% - Standard Valuation fee paid by Kensington for Purchases Standard**
 - Valuation fee and Standard Legals paid by Kensington for remortgages**
£999 £​250,000  LIBOR plus 4.30%* 
3 Year Fixed
3.39%  - Standard Valuation fee paid by Kensington for Purchases Standard**
- Valuation fee and Standard Legals paid by Kensington for remortgages**
£999  £​250,000
LIBOR plus 4.30%*

*Kensington review the LIBOR rate quarterly.

*The Current LIBOR rate is 0.40% with effect from 13 February 2017 – LIBOR Floor 1.00%*. If LIBOR falls below 1.00% the reversion rate will be charged at reversion margin plus 1.00%.

**Standard legals only available on loans up to £500,000.  For full details please see our Criteria Guide

Early Repayment Charges apply:
3 Year Fixed - 3.00% in Year 1, 2.00% in Year 2, 1.00% in Year 3
2 Year Fixed - 3.00% in Year 1, 2.00% in Year 2
1 Year Fixed - 3.00% in Year 1

 

75% LTV

Rate Type / Term Rate Feature  Completion Fee
(can be added)
Maximum Loan Reversion
2 Year Fixed
2.94% None 1.50% £1 million LIBOR plus 4.30%*
3 Year Fixed
3.34% None 1.50% £1 million LIBOR plus 4.30%*
2 Year Fixed
3.19% - Standard Valuation fee paid by Kensington for Purchases Standard**
- Valuation fee and Standard Legals paid by Kensington for remortgages**
​£999
£250,000  LIBOR plus 4.30%*
3 Year Fixed
3.59% - Standard Valuation fee paid by Kensington for Purchases Standard**
- Valuation fee and Standard Legals paid by Kensington for remortgages**
£999
£250,000
LIBOR plus 4.30%*

*Kensington review the LIBOR rate quarterly.

*The Current LIBOR rate is 0.40% with effect from 13 February 2017 – LIBOR Floor 1.00%*. If LIBOR falls below 1.00% the reversion rate will be charged at reversion margin plus 1.00%.

**Standard legals only available on loans up to £500,000.  For full details please see our Criteria Guide

Early Repayment Charges apply:
3 Year Fixed - 3.00% in Year 1, 2.00% in Year 2, 1.00% in Year 3
2 Year Fixed - 3.00% in Year 1, 2.00% in Year 2
1 Year Fixed - 3.00% in Year 1

 

80% LTV

Rate Type / Term Rate Feature  Completion Fee
(can be added)
Maximum Loan Reversion
2 Year Fixed
3.14% None 1.50% £500,000 LIBOR plus 4.30%*
3 Year Fixed
3.54% None 1.50% £500,000 LIBOR plus 4.30%*
2 Year Fixed 3.39% - Standard Valuation fee paid by Kensington for Purchases Standard**
- Valuation fee and Standard Legals paid by Kensington for remortgages**
​£999 £250,000
LIBOR plus 4.30%*
3 Year Fixed 3.79% - Standard Valuation fee paid by Kensington for Purchases Standard**
- Valuation fee and Standard Legals paid by Kensington for remortgages**
​£999 £250,000
LIBOR plus 4.30%*

*Kensington review the LIBOR rate quarterly.

*The Current LIBOR rate is 0.40% with effect from 13 February 2017 – LIBOR Floor 1.00%*. If LIBOR falls below 1.00% the reversion rate will be charged at reversion margin plus 1.00%.

**Standard legals only available on loans up to £500,000.  For full details please see our Criteria Guide

Early Repayment Charges apply:
3 Year Fixed - 3.00% in Year 1, 2.00% in Year 2, 1.00% in Year 3
2 Year Fixed - 3.00% in Year 1, 2.00% in Year 2
1 Year Fixed - 3.00% in Year 1