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Do it Later x

New Build Residential 

A New Build mortgage fit for all

There’s nothing like a bit of new blood to invigorate and encourage change in a stagnant marketplace. With this in mind we have entered the New Build lending market with the aim of applying our ethos of ‘Lending for Real Life’ to residential New Builds.

What this means to you is a range of products and a way of thinking that enables your clients with more complex circumstances – self-employed, contractor, first time buyer, complex income and those with a failed credit score – to have the New Build opportunities they deserve and can afford. 

Product features: 

  • Max LTV: 85% New Build Houses and Flats
  • Dedicated New Build team and named underwriters 
  • 6 month offer period and extension process available**
  • Up to 5% Builders Deposit accepted
  • Minimum trading period for Self Employed and Contractors only 1 year
  • Maximum Loan £2 million
  • Failed Credit Scores accepted

Perfect for: 

  • First Time Buyers or Home Movers looking to buy a New Build property
  • People who have failed a credit score check 
  • New business owners
  • Entrepreneurs whose business profits have fluctuated 
  • Contractors of any profession
  • People with multiple sources of income such as bonus, overtime and vested shares

Search our Lending Policy

New Premier Range

New Build Rates

75% LTV

Rate Type / Term Rate  Feature Completion Fee Reversion
2 Year Fixed 2.94% - 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). £999 LIBOR plus 4.10%*
3 Year Fixed 3.44% - 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). £999 LIBOR plus 4.10%*

Kensington review the LIBOR rate quarterly.

*The Current LIBOR rate is 0.30% with effect from 14 August 2017 – LIBOR Floor  1.00%*. If LIBOR falls below 1.00% the reversion rate will be charged at reversion margin plus 1.00%.

**Offers valid for 6 months from date of valuation or date of Applicants signed declaration. 6 month extension available subject to criteria (income verification, credit bureau search;
switch to existing product range and customer letter confirming no change in circumstances).

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

 

80% LTV

Rate Type / Term Rate Feature  Completion Fee Reversion
2 Year Fixed 3.04% - 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). £999 LIBOR plus 4.10%*
3 Year Fixed 3.54% - 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). £999 LIBOR plus 4.10%*

Kensington review the LIBOR rate quarterly.

*The Current LIBOR rate is 0.30% with effect from 14 August 2017 – LIBOR Floor  1.00%*. If LIBOR falls below 1.00% the reversion rate will be charged at reversion margin plus 1.00%.

**Offers valid for 6 months from date of valuation or date of Applicants signed declaration. 6 month extension available subject to criteria (income verification, credit bureau search;
switch to existing product range and customer letter confirming no change in circumstances).

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

 

85% LTV

Rate Type / Term Rate Feature  Completion Fee Reversion
2 Year Fixed ​3.44% - 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).
£1,299 LIBOR plus 4.30%*
3 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). £1,299 LIBOR plus 4.30%*

Kensington review the LIBOR rate quarterly.

*The Current LIBOR rate is 0.30% with effect from 14 August 2017 – LIBOR Floor  1.00%*. If LIBOR falls below 1.00% the reversion rate will be charged at reversion margin plus 1.00%.

**Offers valid for 6 months from date of valuation or date of Applicants signed declaration. 6 month extension available subject to criteria (income verification, credit bureau search;
switch to existing product range and customer letter confirming no change in circumstances).

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