Kensington Mortgages Review

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Written by Michael Foote, founder of Quote Goat, has over 13 years experience working in the finance, insurance and currency sectors.

Quote Goat’s team have combined professional analysis and customer reviews of lender Kensington to compile a comprehensive Kensington mortgages review so you can judge whether they are the right choice for you.

Do Kensington offer competitive rates?

Kensington offer flexible lending criteria which makes them a valid option for those needing a mortgage with a poor credit history. Due to the high risk of these types of mortgages Kensington’s rates are hard to compare against the other top lenders.

Side by side with the other top ten lenders, Kensington struggles to compete. Their interest rates for fixed-rate mortgages averages at 3.74% which is way above the industry average which is around 2.77%.

What types of mortgage products do Kensington offer?

Kensington specialise in mortgages with flexible lending criteria for people with poor credit history and unusual circumstances. Those who are unable to secure a mortgage elsewhere stand a better chance with Kensington, but at a price. They have 154 mortgages available, the overwhelming majority of which have much higher rates than the UK average.

All of these mortgages are fixed-rate for a set period of one, two, three or five years.

What do customers say about Kensington?

Around 60% of customer-written online reviews state a positive experience when dealing with Kensington for their mortgages. Yet there is a selection of customers that seem very unhappy with the service they received, scoring the lender a one-star review.

Most reviews praise the quality of service and direct contact from the underwriters at an early stage who were able to get their applications processed quickly and accurately.

What are Kensington’s eligibility requirements?

Kensington’s mortgage applications operate differently to other lenders. Because they deal with customers in unusual circumstances, they do not perform credit checks. Instead they deal with people on a case-by-case basis.

Those applying for a loan need to be over the age of 21 and will have to be under the age of 71 by the end of their mortgage. They do provide a Later Life mortgage which allows the limit to be extended up to the age of 90 years old.

Their Young Professionals’ mortgage also doesn’t require a minimum level of income from their applicants in order to be considered. Although it doesn’t guarantee you a mortgage agreement.

Applications for first-time buyer mortgages with poor credit scores and little to no credit history will also be accepted for consideration.

What is Kensington’s maximum loan to value (LTV)?

Kensington mortgages are lent only via mortgage brokers who will give advice on your situation and tell you which mortgage you are eligible for. Each separate mortgage through Kensington has separate ranges with different LTV limits.

Can I make overpayments with Kensington?

Overpayments vary depending on the final mortgage you receive. Some also incur an early repayment charge.

Compare Kensington Mortgages

Kensington offer a unique opportunity for those who have been denied mortgages with another lender. If you have poor credit history or a low credit score and want to compare mortgages against the whole market, you do so through our partners at Mojo.

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