Kensington Mortgages has made changes to its residential and buy-to-let propositions.

For Kensington’s residential Help to Buy range, rates are being reduced by 20bps and 25bps on two and five-year fixes. Rates now start at 3.29% for two-year fixed and 3.89% for five-year fixed at 75% LTV. Both include free valuations and £500 cashback.

Loan sizes on the Select range have also been increased up to £2 million on 80% LTV, £1.5 million at 85% LTV and £1 million to 90% LTV.

Across its buy-to-let product offering, Kensington has reduced the £70,000 minimum loan size to £25,001 – which includes individual landlords, Limited Company, HMOs and multi-unit blocks, and those on the Property Plus product for homes with non-standard construction.

For its buy-to-let range, rates have been reduced at 85% LTV by 0.25% on two and five-year fixes, starting at 4.39% and 5.09% respectively.

Craig McKinlay, new business director at Kensington Mortgages, said: “These rate reductions and other product changes seek to provide borrowers and landlords increased flexibility and choice across our ranges.

“While Help to Buy may soon be ending as we know it, we want to give first-time buyers, who may otherwise have been turned away from the high-street for being too ‘complex’, the best chance of home ownership.

“These changes reflect our continued commitment to helping underserved borrowers across the UK secure a competitive mortgage, and help those who the traditional and outdated criteria of banks don’t cater for onto the property ladder.”