Kensington Mortgages has reduced rates across its eKo proposition and introduced lower pricing on selected residential and buy-to-let products.

The lender has removed its £500 cashback offer for residential and buy-to-let customers using the eKo range, replacing it with rate reductions on selected products.

The revised eKo rates are priced five basis points below Kensington’s standard equivalents.

The residential eKo range now includes two-year fixed rates at 5.24% up to 85% loan to value and 5.61% up to 90% loan to value, alongside five-year fixed rates at 5.29% up to 85% loan to value and 5.67% up to 90% loan to value.

All residential eKo products come with a £1,499 fee and a free valuation.

Kensington has also increased maximum loan sizes for residential eKo mortgages, raising the limit to £1 million up to 90% loan to value and £1.5 million up to 85% loan to value.

Within the buy-to-let eKo range, all products are available up to 75% loan to value and include a free valuation. Two-year fixed rates are now available at 4.74% with a £1,499 fee, 4.51% with a £4,000 fee, 3.69% with a 3% fee, and 5.18% with no fee.

Five-year fixed buy-to-let eKo rates include 4.82% with a £1,499 fee, 4.67% with a £4,000 fee, 4.27% with a 3% fee, and 4.94% with no fee. The maximum loan size for buy-to-let eKo mortgages has been increased from £500,000 to £750,000.

Eligibility for the eKo range requires residential borrowers to be purchasing or remortgaging a property with an energy efficiency rating of A or B. Buy-to-let borrowers must be purchasing or remortgaging a property rated A, B, or C.

Evidence must be provided via an Energy Performance Certificate, while a Predicted Energy Assessment can be used for new build properties.

RESIDENTIAL AND BUY-TO-LET RATE REDUCTIONS

Kensington has also implemented reductions across its wider residential and buy-to-let ranges.

Residential customers can now access cuts of up to seven basis points across selected two-year and five-year fixed rates within the Select, Heroes, Professional, and Own New product ranges, for lending up to 85% loan to value.

Residential two-year fixed rates at 75% loan to value now start from 4.79% with a £1,999 fee, while five-year fixed rates at the same loan to value start from 5.01% with a £1,499 fee.

In the buy-to-let range, Kensington has reduced rates by up to 10 basis points across selected Prime and Core products, for lending up to 80% loan to value.

Notable changes include two-year fixed rates at 75% loan to value priced at 5.23% with no fee and 4.56% with a £4,000 fee.

Five-year fixed buy-to-let rates at 75% loan to value are now available at 4.72% with a £4,000 fee and 4.87% with a £1,499 fee. Free valuations remain available across all buy-to-let products.

Andy Bickers (pictured), commercial director at Kensington Mortgages, said: “We regularly engage with our broker partners to ensure our propositions are aligned with what matters most to their clients.

“Feedback told us that, particularly in the current market, lower rates would deliver greater long-term value than cashback, which is why we’ve refreshed our eKo range with reduced pricing across selected products.

“Alongside these changes, we’ve also taken the opportunity to lower rates across our wider residential and buy-to-let ranges, giving brokers access to more competitive pricing across a broad set of customer needs.

“By combining reduced rates, increased loan sizes, and continued support for energy-efficient properties, we’re strengthening our proposition and helping brokers support more clients with confidence.”