Kensington is a specialist lender with a range of products for applicants who are self-employed, work on a contractual basis, earn regular bonus or overtime, or have historic credit problems or a declined credit score. In addition it provides Buy to Let mortgages for landlords who are looking to grow their portfolio or make the first step on the investor ladder.
When you submit an application to Kensington, not only can you be sure that your application will be assessed by an underwriter rather than an automated system, but you will also receive a phone call from your underwriter to discuss the case as part of the lender’s initial assessment. This helps streamline the process and can make even the most complex case more straight forward.
Reasons to use Kensington:
• Decisions made on most recent year’s accounts
• Income calculated on current weekly contract x 46
• Up to 100% sustainable bonus or overtime used in affordability
Credit score declines
• Defaults older than 24 months
• Satisfied CCJs older than 24 months
• Secured loan arrears older than 24 months
• Unsecured credit arrears if account now up to date
Buy to Let
• No minimum income for experienced landlords
• No maximum overall portfolio limit
• Can be used for Let to Buy
Doing business with Kensington is easy. Just follow these simple steps:
1. Register online at www.kmc.co.uk, using details of your business including your FCA number.
2. Once registered make sure you select your chosen Mortgage Club. Click on the ‘Admin’ tab in the navigation bar at the top of the page, and then ‘Your Profile’. Finally, select 'Change preferred Mortgage Club‘.
3. You are now ready to find the right products for your clients, produce KFIs, obtain DIPs and submit applications.
If you have any questions about this process, or Kensington’s products, call its Business Development Unit on 0800 111 020.