New buy to let mortgage launched

17 May 2010

Written by Michael Aglony.

A new buy to let mortgage from lender Kensington aimed at experienced landlords has hit the market.

The product is available up to a loan-to-value ratio of 75 per cent and can be taking out as a two-year or three-year fixed-rate deal.

Mortgages for two years can be taking out at a rate of 5.69 per cent, while three-year terms start at 6.19 per cent. The range also carries a 2.5 per cent arrangement fee.

Kensington's new deals are designed for landlords who already have at least two buy to let properties on the market and are looking to expand their business. Borrowers may take on up to ten properties or £2 million with the lender.

Charles Morley, head of sales and product development at the company, said: "Tenant demand is growing and as the property market recovers many landlords are looking to meet this demand and expand their portfolios."

As an intermediary only-provider, it is only possible to take out a Kensington product through a mortgage advisor.

Why not take a look at our best Buy to Let mortgages and make an enquiry online now.