Kensington Mortgages has announced a number of rate updates to its buy-to-let and residential mortgage ranges.

The specialist lender is introducing a new residential loan to value (LTV) special rate. Starting at 6.19% for a two-year fixed term at 65% LTV, the offering extends further with a 5.89% rate for a five-year fix at the same LTV, both with a £999 fee. Purchase customers will receive a complimentary valuation and an additional £500 cashback. Remortgage customers will also benefit from a free complimentary valuation with a choice of £500 cashback or free legals.

These adjustments follow Kensington’s recent announcement introducing an enhanced large loan offering, spanning from £500,000 to £2 million. The introduction of a new three-year fixed option complements the existing two and five-year fixed-rate products.

For buy-to-let investors, Kensington is updating its fixed-rate specials: a two-year fix with a 70% LTV is now available at 4.19%, while a two-year fix at 75% LTV stands at 4.64%, all with a 5% fee. All fixed-rate specials include a complimentary valuation.

Kensington is also adding a new two-year variable special rate tracker mortgage to its buy-to-let range, at 75% LTV and a 5.60% rate. The new offering includes a 3% fee in addition to a free valuation.

Across buy-to-let tracker mortgages, Kensington is providing reduced rates and free valuations for all 75% and 80% LTV products. residential tracker mortgages up to 75% and 80% LTV also all offer a free valuation.

Vicki Harris, chief commercial officer at Kensington Mortgages, said: “These updates represent our unwavering dedication to providing mortgage solutions that offer more options to customers.

“By collaborating closely with brokers, Kensington empowers borrowers to choose the most suitable loan, providing the flexibility needed to navigate individual financial circumstances. Our service, with an average processing time of just 11 days from application to offer, means that those looking to secure a deal before Christmas should be able to do so. As a trusted partner to our customers and brokers, we continue to set industry standards by prioritising flexibility, affordability, and customer satisfaction.”