Here is the latest release from Kensington. Remember we offer these products via Fees Free Packaging or direct to lender. For product details see their Residential Product Guide or their BTL Product Guide.
New Background Portfolio Exposure Limits
From 18th November, our existing background portfolio exposure limits will change. Under the new policy, landlord clients of your network brokers will be permitted to hold a total of 20 mortgaged properties, with a maximum total borrowing limit of £5m (including the subject property coming to Kensington).
This limit applies to mortgages on buy to let properties that are owned solely, jointly by applicants or through limited companies. Please note that Kensington’s own maximum lending limit will remain unchanged at £2m combined across residential and buy to let mortgages (inclusive of fees).
Having reviewed the complexities of portfolio landlords this change will enable us to have full visibility of our customers’ BTL finances as we look to expand our BTL offering. We are also writing to your broker networks to inform them of these changes along with a link to our specially prepared FAQ page.