Residential Second Charge Loans launched by Precise Mortgages and are available via TFC! The new products have a very special feature!
No early repayment charges!! This is for a limited time only!
Large loan range for loans up to £500,000 - Rates from 4.25% - Fixed £1,495 product fee
Near prime range to help customers with a less than perfect credit profile - Rates from 4.75%
This is available across their full range of 2 year Tracker and 2 year Fixed or 5 year Fixed rate products. Customers with less than perfect credit profiles can be accepted. Large loans up to £500,000 and up to 85% LTV can also be considered.
This funding will allow Kensington to fund almost £1bn worth of new originations, securing funding for buy-to-let and owner-occupied originations as far into the future as January 2021. The warehouse line is funded equally by Citi and BNP.
Alex Maddox, capital markets director for Kensington Mortgages, said: “As we start the New Year, Kensington remains an active player in the wholesale funding markets.
“The renewal and extension of this warehouse facility will provide funding capacity for new loans originated up to January 2021 and thereby provide Kensington with the confidence to grow in the current politically volatile and uncertain climate.
“We’ve raised almost £13bn of funding through warehouse lines and securitisations since Kensington Mortgages changed ownership in 2015.”
Craig McKinlay, new business director, Kensington Mortgages, added: “As the lender that established the specialist mortgage market in 1995, with 24 years of experience, the renewal of our warehouse line, together with our product innovation across our residential and buy-to-let portfolios in 2018, allows us to continue to lend with head and heart, and helping customers onto the property ladder.”
Despite market volatility, this extended warehouse funding continues the success of Kensington’s securitisations last year, with the latest taking place in November 2018, when an additional £600m worth of funding was secured.
You can access Kensington's products through TFC Homeloans - including packager exclusives of up to 95% LTV. Send us your cases today!
The mortgage market is ever evolving and we want to ensure you have the solutions you need for your clients.
In general, adverse credit has become much more of a feature in recent years and there is no sign of this slowing down! With credit options widely available the number of people with a less than perfect credit score will likely continue to increase.
Tell us what type of credit issues you have seen increase