Insurance News Archive
Kensington launches mortgages for buy to let insurance policyholders
Posted by Jonathan Walker
Mortgage lender Kensington has entered the buy to let market with a range of new deals which could help landlords expand their property portfolios.
The new products are available up to 75 per cent loan to value (LTV), with two-year fixed rates of 5.69 per cent and a rate of 6.19 per cent for three-year arrangements.
Charles Morley, head of sales and product development at Kensington, said: "Buy to let investors have played a significant role in improving quality and affordability for tenants."
He added that, as tenant demand is "growing" and the property market is recovering, many landlords are looking to meet the demand with an expanded portfolio.
The firm is targeting experienced landlords with at least two buy to let properties and it will allow investors to hold up to ten buildings.
Recent figures reported by Datamonitor predicted that demand for private rented accommodation would continue to grow until 2014.
17 May 2010
