Some fantastic news for investors, Kensington is the first lender to come back into the market with an 85% LTV product for some time. The criteria is that you must earn at least £25k and rental coverage has to be 120%. It's not the best interest rate at 5.99% for 2 year fixed, but for stacking deal it works wonderfully. Of course, it means cashbacks on some of our properties if you qualify for the product.
Here's the BUT....the rate is fixed for the first 2 years then hikes up quite a bit so have a plan to exit before the 2 year point if you take it The arrange ment fee is 3.5% which is also on the steep side. You can only have 0-3 properties with them so there is also a limit. At least it is the first step back to 85% LTV lending, others will follow. Either way its good news for the small investor!
Specialist property lettings, management and investment in Hull. Visit us at
iQ Property
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