Kensington has introduced a new first-time buyer range and increased maximum LTVs as part of a major product revamp.

The Investec-owned lender’s first-time buyer deals include a lower fee of £699 and maximum LTV of 85%. Rates for first-time buyers are available from 4.79% for a two-year fixed rate up to 75% LTV, with a two-year fixed rate at 85% LTV costing 5.69%

Charles Morley, head of sales and product development at Kensington, said: “Many first-time buyers do not have extensive credit histories because they have not managed a mortgage in the past. And if they have not used credit cards or taken other forms of credit this may impact their ability to pass a credit score and prove a barrier to securing a mortgage on their first home