Mortgage distributor 3mc has announced the launch of a 90% LTV residential mortgage from Kensington, with no packager fee.

The product, which marks 3mc’s appointment to Kensington’s packager panel, is being offered with the choice of a 4.89% two-year fix or 5.19% three-year fix.

The deal is also being made available through 3mc’s network partners Home Loan Partnership, The Right Mortgage and Protection Network and Sesame and to directly authorised members of the PMS Mortgage Club.

Doug Hall, director of 3mc, said: “It’s great to be able to offer our intermediaries a specialist mortgage up to 90% LTV and we are making this product even more accessible by waiving our packaging fee for a limited time only. There is also an option providing a free valuation, no completion fee and free legals on remortgages.

“This is the start of an exciting new partnership with Kensington and we are looking forward to working with such an innovative lender to deliver new solutions for brokers’ hard to place cases.”

Steve Griffiths, head of sales and distribution at Kensington, said: “Placing a complex case doesn’t have to be difficult and packagers like 3mc are an important resource in helping brokers satisfy the needs of more of their clients.

“We are really looking forward to working with 3mc and developing new products to provide more options for their introducers in the future.”