The Kensington Mortgage Company, a leading UK lender, has been in the news recently, with many concerned about the claims it has been making about its services and products. As a borrower or homeowner, it’s essential to be aware of what the claims are and whether they are true or not. Here’s a closer look at the Kensington Mortgage Company claims:
1. We are a flexible lender that caters to bad credit and self-employed applicants.
One of the primary claims that the Kensington Mortgage Company makes is that it is a flexible lender that is open to working with borrowers who have bad credit or are self-employed. According to their website, they state that they understand that not everyone has a perfect credit score, and they make it possible for people to get the mortgages they need, regardless of their background.
The truth is that Kensington Mortgage Company is a lender that does indeed work with people who have bad credit or are self-employed. They have products such as the ‘Hero’ mortgage that is specifically designed for these types of borrowers. However, it’s essential to note that just because they cater to these markets doesn’t mean you’re guaranteed approval. As with any lender, the individual applications are assessed based on their merits. If you have bad credit, the interest rate may be higher, and the maximum loan amount is likely to be lower than someone with an excellent credit score.
2. We offer specialist advice for first-time buyers.
Another claim that the Kensington Mortgage Company makes is that they offer specialist advice for first-time buyers. They have a range of products designed specifically for first-time buyers, such as the ‘Universe’ mortgage, which allows parents or family members to provide additional security for their children’s mortgages.
The truth is that the Kensington Mortgage Company does offer specialist first-time buyer advice, something which can be hugely beneficial for someone new to the property ladder. The company’s advisers can help you understand your options and guide you through the application process. They will also provide advice on specific products, such as the help to buy scheme, that may be suitable for your situation.
3. We have a streamlined application process.
One of the benefits of working with Kensington Mortgage Company is that they claim to have a streamlined application process that makes it easy to apply for a mortgage. They state that they use the latest technology to make the process as straightforward as possible, allowing you to apply online or over the phone.
The truth is that the application process is relatively easy, especially if you work with an adviser. They will guide you through the entire process and advise you on the documents you need to provide. However, it’s essential to note that the application process can still take some time, and there may be delays if you don’t submit the required documentation promptly.
4. Our mortgage products are competitive.
Finally, the Kensington Mortgage Company claims that its mortgage products are competitive and offer good value for homeowners. According to their website, they state that they take care to ensure their interest rates are competitive and that they offer a range of products that meet different borrower needs.
The truth is that Kensington Mortgage Company’s products are competitive and can offer good value, depending on your specific needs. However, it’s essential to comparison shop and consider other options to ensure you’re getting the best deal possible. You should also remember that interest rates and fees can change over time, so you should keep an eye on any changes and be prepared to remortgage if needed.
In summary, the Kensington Mortgage Company claims are indeed legitimate, and they offer a range of products that cater to different borrowers’ needs. However, it’s essential to remember that just because they cater to specific markets or offer specialist advice, it doesn’t mean that everyone will be approved or that their products are the only option available. As with any mortgage application, it’s essential to consider your options, compare rates and terms, and work with a lender or adviser who can help you navigate the process.