Flexible Mortgages

Combined with the security of our new value for money insurance options we have the complete solution for your clients.

Kensington's Flexible Mortgages:

  • Allow your client to pay more off their mortgage at any time without notice*
  • Allow your client access to flexible features usually only available on the high street - this is now available to all customers through Kensington Mortgages

We also offer a Flexible Buy to Let Mortgage. As a landlord, this means you can pay all your rent into the mortgage, take a payment holiday when the rental property is vacant, or borrow back when repairs are needed.

How do I find a Flexible Mortgage Product?

The flexible mortgage rates are standard as part of our Prime product range.

To obtain a flexible product using the product selector, select 'Yes' to the 'Add Flexible Features?' question on the product selector page.

The Facts

Kensington's flexible product offers your client the ability to make Overpayments to their flexible loan, either by way of regular monthly payments or lump sum payments, and to Borrow Back, Underpay, or take Holidays up to the amount of any Overpayments made.

This allows them to pay more off their mortgage at any time without notice*, and because interest is calculated daily, they will benefit immediately from any Overpayments. Even Overpaying a few extra pounds each month will mean your client could pay back their loan faster, or if they need to, Borrow Back the money they have previously Overpaid.

Overpayments

  • *Your client can choose to make Overpayments either by way of regular monthly payments or lump sum payments. They can pay a maximum of 10% of the outstanding balance per year during the Early Repayment Period without being subject to an Early Repayment Charge.

Regular Overpayment

  • Minimum: £25 per month. Maximum: 10% of the outstanding balance on completion and recalculated at each anniversary date during the Early Repayment Period.

Lump Sum Overpayment

  • Minimum: £500 per payment
  • Maximum: 10% of the outstanding balance on completion and recalculated at each anniversary date during the Early Repayment Period.
  • Lump sum payments can be made by debit card by phoning 0870 556 1040 or by cheque.
  • Following a one-off Overpayment, your client can choose to maintain their current monthly payment or to reduce their regular monthly payment. By maintaining the monthly payment, you can continue to Overpay and reap further benefit.

Borrow-back

  • Any Overpayment can be Borrowed Back subject to a minimum of £500 or the full outstanding balance if lower.
  • If your client elects to Borrow Back monies overpaid this may effect their monthly repayments depending on whether they had decided to maintain their current payments or reduce them.

Payment Holidays

  • Overpayments can be used to fund Payment Holidays anytime after the first 3 monthly payments of the mortgage are made.
  • Your client can start two Holiday periods in any mortgage year. They can make a Holiday last as long as the overpayments will allow!

Underpayments

  • Underpayments can be arranged anytime after the first 3 monthly payments of the mortgage are made. Again, the only limit on duration is the amount of Overpayments made!


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