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Do it Later x

First Time Buyer lending

First Time Buyer mortgages based on the buyer, not their score

Taking a first step onto the housing ladder is never easy, and if your client’s work or credit history means that they don’t fit a standard mortgage application it can seem like mission impossible. But it doesn’t have to be. At Kensington, we will look at all of their circumstances, with decisions made by experienced underwriters who understand that sometimes life isn’t straight-forward. 

So, if you have a First Time Buyer client who is self-employed, earns multiple or variable income, has historic credit issues or a low credit score, helping them to make the first step onto the ladder to be more achievable than you think.

Product features:
We can still consider your client if they 

  • Have 12 months accounts from self-employment 
  • Have 12 months history as a contract worker
  • Want to include bonus or overtime in their affordability assessment
  • Have a black mark on their credit file

Perfect for: 

  • Self-employed
  • Contractors
  • Historic credit issues
  • Low credit score

Search our Lending Policy

Product guide

New Premier Range

Rates

75% LTV

Rate Type / Term Rate  Feature Completion Fee Reversion
2 Year Fixed 2.99%  None £999 LIBOR plus 4.10%*
3 Year Fixed 3.34%  None £999 LIBOR plus 4.10%*
5 Year Fixed 3.59%  None £999 LIBOR plus 4.10%*
 2 Year Fixed  3.74%  - Free Valuation For Purchase and all New Build rates and Free Valuation & Free Legal for Remortgages. (Standard legals only available on loans up to £500,000. For full details please see our Criteria Guide).  £0 LIBOR plus 4.10%*
3 Year Fixed
4.04%
- Free Valuation For Purchase and all New Build rates and Free Valuation & Free Legal for Remortgages. (Standard legals only available on loans up to £500,000. For full details please see our Criteria Guide).
£0 LIBOR plus 4.10%*
5 Year Fixed 4.19%
- Free Valuation For Purchase and all New Build rates and Free Valuation & Free Legal for Remortgages. (Standard legals only available on loans up to £500,000. For full details please see our Criteria Guide). £0 LIBOR plus 4.10%*

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%.

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

Early Repayment Charges apply:
5 Years Fixed - 4.00% in Year 1, 3.00% in Year 2, 1.50% in Year 3, 1.00% in Year 4 and 5
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

 

80% LTV

Rate Type / Term Rate Feature  Completion Fee Reversion
2 Year Fixed 3.34%  None £999 LIBOR plus 4.10%*
3 Year Fixed 3.54%  None £999 LIBOR plus 4.10%*
5 Year Fixed  3.74%  None £999  LIBOR plus 4.10%*
 2 Year Fixed  3.94%  - Free Valuation For Purchase and all New Build rates and Free Valuation & Free Legal for Remortgages. (Standard legals only available on loans up to £500,000. For full details please see our Criteria Guide).  £0 LIBOR plus 4.10%*
3 Year Fixed 4.09%
- Free Valuation For Purchase and all New Build rates and Free Valuation & Free Legal for Remortgages. (Standard legals only available on loans up to £500,000. For full details please see our Criteria Guide). £0 LIBOR plus 4.10%*
5 Year Fixed 4.24%
- Free Valuation For Purchase and all New Build rates and Free Valuation & Free Legal for Remortgages. (Standard legals only available on loans up to £500,000. For full details please see our Criteria Guide). £0 LIBOR plus 4.10%*

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%.

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

Early Repayment Charges apply:
5 Years Fixed - 4.00% in Year 1, 3.00% in Year 2, 1.50% in Year 3, 1.00% in Year 4 and 5
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

 

85% LTV

Rate Type / Term Rate Feature  Completion Fee Reversion
2 Year Fixed 3.54%  None £1,299 LIBOR plus 4.30%*
3 Year Fixed 3.69%  None £1,299 LIBOR plus 4.30%*
5 Year Fixed 3.84%  None £1,299 LIBOR plus 4.30%* 
 2 Year Fixed  4.04% - Free Valuation For Purchase and all New Build rates and Free Valuation & Free Legal for Remortgages. (Standard legals only available on loans up to £500,000. For full details please see our Criteria Guide).  £0 LIBOR plus 4.30%*
3 Year Fixed ​4.19%
- Free Valuation For Purchase and all New Build rates and Free Valuation & Free Legal for Remortgages. (Standard legals only available on loans up to £500,000. For full details please see our Criteria Guide). £0 LIBOR plus 4.30%*
5 Year Fixed ​4.34%
- Free Valuation For Purchase and all New Build rates and Free Valuation & Free Legal for Remortgages. (Standard legals only available on loans up to £500,000. For full details please see our Criteria Guide). £0 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%.

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

Early Repayment Charges apply:
5 Years Fixed - 4.00% in Year 1, 3.00% in Year 2, 1.50% in Year 3, 1.00% in Year 4 and 5
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