Kensington Mortgages has made interest rate cuts on its Young Professional, Large Loan, Select, Select Premier (large loan) and Hero mortgage products.

Rates are being reduced by up to 40 basis points across these key products.

For Kensington’s Select product range, interest rates now start at 2.49% for a two-year fixed product at 75% LTV. For Young Professionals, rates now start at 2.69% for a two-year fixed product, 2.99% for three-year fixed, and 3.39% for five-year fixed, all at 75% LTV.

Kensington’s Hero product range rates now start at 2.54% for two-year fixed and 3.24% for five-year fixed at 75% LTV.

Reduced rates are also available for Kensington’s Select Premier mortgage range for loans up to £2 million. Available in a one, two and five-year fixed product, rates start at 2.64% for one-year fixed at 75% LTV.

New rates have also been announced for Kensington’s Select range for its five-year fixed products. Charges start at 3.24% for 75% LTV, 3.39% for 80% LTV and 3.69% for 85% LTV.

Craig McKinlay, new business director, said: “Offering great value and competitive rates is our core focus at Kensington. Building on the success of our recent Heroes and Young Professionals launches, we’re reducing our rates across a number of our residential mortgages to reflect the quality of our customers and to support our intermediary partners.

“These rate reductions further demonstrate our commitment to helping underserved borrowers across the country, such as those with complex incomes who don’t normally tick all the boxes at the traditional high street lenders, buy their own home.”