Kensington Mortgages has launched its enhanced large loan offering, designed to help provide customers with more flexible borrowing opportunities.

The lender is offering large loans ranging from £500,000 up to £2 million and has also launched a new three-year fixed option, adding to its existing two and five-year fixed rate products.

All loans are available over purchase and remortgage and come with a free valuation. Rates are up to 20 basis points lower than Kensington’s Select rates, ranging from 5.89% to 6.89%.

Kensington has also introduced set fees of either £1,499 or £1,999 for its large loan range.

Its enhanced offering will be supported by a dedicated team of experienced senior underwriters.

Vicki Harris, chief commercial officer at Kensington Mortgages, said: “By enhancing the criteria of our large loan offering and expanding our product range, Kensington is aiming to provide a greater number of options for brokers when supporting their residential clients.

“We’ve also introduced set fees to make work easier for our intermediary partners and to simplify the borrowing process for customers.

“The refinement of our offering furthers Kensington’s goal of meeting the diverse needs of borrowers and providing an inclusive offering in a complex mortgage market.”