Kensington Mortgages, a leading specialist mortgage lender, has announced a new initiative, offering cashback on all its buy-to-let (BTL) and residential mortgages, including limited company products, until the end of January 2024. This includes a minimum of £250 cashback on a variety of mortgage options.

The deal covers both fixed and tracker mortgages, with the notable exception of the Flexi Fixed for Term range, and encompasses all loan-to-value ratios (LTVs), purchase, and remortgage products. Cashback will be provided upon completion for most products, while for Kensington’s eKo £1,000 Cashback Mortgage, it is paid upon qualification, adhering to standard product terms.

Kensington’s unique proposition, currently unparalleled in the market, stands out as most lenders do not offer cashback across their entire product range.

Moreover, Kensington is also slashing selected residential rates by up to 75 basis points (bps). This includes reductions of up to 31bps on Select rates across 65% to 85% LTV products, and up to 70bps on Core rates across 70% to 85% LTV products. Further, reductions of up to 75bps are being applied to large loan, Young Professionals, Hero, eKo, and Right to Buy mortgages.

Among the highlighted offerings, Kensington’s lowest residential rates now feature a 65% LTV five-year fixed rate at 5.59% and a 65% LTV two-year fixed rate at 5.89%, both including a £999 fee and £500 cashback. Large loan products have also been adjusted, with a 75% LTV five-year fixed rate at 5.59% and a 75% LTV two-year fixed rate at 5.89%, now including a £1,999 fee, a free valuation, and £250 cashback.

Additionally, Kensington’s Hero mortgages are now offering a 75% LTV five-year fix at 5.69% and a 75% LTV two-year fix at 5.99%, both with a £999 fee and an enhanced £250 cashback.

Vicki Harris, Chief Commercial Officer at Kensington Mortgages, commented on these developments: “Our decision to offer cashback across all residential and BTL mortgages and reduced rates for our residential products reaffirms Kensington’s commitment to providing greater flexibility for our clients. These developments to our offering aim to help more people to realise their aspiration of owning a home and support those looking to remortgage. Over the next twelve months, we look forward to continuing to innovate across our product range and delivering quality service for our clients.”