What are the benefits of taking independent advice?
The main benefit to having professional advice is working with a professional that is giving you advice based on what's best for you.
What does execution only mean?
In certain circumstances, you can apply for a mortgage or make a change to your Mortgage without taking advice; this is known as an "execution only" mortgage application. However, you will need to know the details of the mortgage or change you want, and be able to deal with the application yourself without speaking to an adviser.
Where can I find information about interest only mortgage?
The Money Advice Service is a free, unbiased and independent source of information that is available to everyone. Click here to access their information.
Can I extend or reduce the term of my mortgage?
If you wish to change the term of your mortgage please contact us on 0333 300 0921 to discuss this.
What interest rate is my mortgage linked to?
If you have a Tracker mortgage that is linked to Bank of England Base Rate then the rate that you are charged will reflect variations in this.
However, in general, our variable mortgages take into account movements in LIBOR (London Interbank Offered Rate), which is the rate at which banks lend money to each other.
We review the variable rate each quarter and make changes accordingly. These changes do not directly reflect movements in LIBOR as the rate is set at the discretion of Kensington within agreed parameters, as set out in your General Mortgage Conditions.
Can I let my property out?
If your property was purchased with a residential mortgage, in certain circumstances we may consent to letting. If you would like us to assess the application, please write to us.
Should we agree to your request the interest rate on your mortgage may increase and you will incur an additional fee for us to carry out the assessment. We will advise you of your new monthly payment and interest rate
What do I do if I want to add, or take off, someone from my mortgage?
Please contact us on 0333 300 0921 to discuss. We may only be able to help in certain circumstances provided you meet our eligibility criteria.
Can I take my mortgage with me to another property?
Taking your mortgage with you to another property is known as Porting. We have a limited number of products where porting can be considered. Please refer to your General Mortgage Conditions to identify whether it is permitted on your mortgage
Can I borrow more money against my property?
We do not currently offer further advances.
Can someone visit me to talk about my mortgage?
We can arrange for a Field Representative to visit your home to discuss your mortgage. This will incur a charge.
Does interest charge daily or monthly to my account?
Your interest calculation will depend on your product. Please refer to your Mortgage Offer for further details.
Who can I speak to about taking out a new mortgage with Kensington?
Kensington mortgages are not available directly to consumers, so please speak to your mortgage adviser about how our criteria might suit your circumstances. Click here to find a mortgage adviser in your area.
Can someone else speak to you on my behalf?
Yes, we require a letter of authority. If you are not sure, call our Customer Services Department on 0333 300 0921.
Can I change my mortgage repayment type?
We may permit customers to convert from Interest Only to Capital and Repayment. Please call us on 0333 300 0921 to discuss further.
Why is my balance not reducing when I make my payments each month?
If your account is operating on an Interest Only basis then you will only be paying the interest due each month and your balance will not reduce.
I find your telephone system very frustrating. Why does it keep selecting the wrong options?
As a company we are continually looking at ways of improving this service and where necessary we are introducing changes to this process to improve our customers’ experience. This system is very sensitive and if you are in an area with a lot of background noise then this can affect the information that is heard. There is also an option to answer the majority of the questions using your phones keypad should your responses not be understood. Unfortunately there is no option to bypass the system.
What is Lenders Interest Only (LIO)? Am I covered?
LIO is a policy that covers the amount owing to the lender and is arranged because a customer has not provided the requested evidence of buildings insurance cover on the property. This policy only insures us and protects our financial interest in the property. It does not provide you with any cover and does not insure the rebuilding cost. This is why it is important for a customer to arrange their own buildings insurance.