Kensington Mortgages has cut buy-to-let rates by up to 25 basis points across its range, with two-year fixes at 75% loan to value now starting from 3.49% and five-year fixes from 4.59%.
The repricing, announced on Monday, covers Prime, Prime eKo, Core, HMO and multi-unit freehold block products at both 75% and 80% LTV. That matters because lenders are now competing beyond standard single-let deals and into the more specialist parts of the landlord market.
For landlords looking to refinance, expand or switch strategy, the latest move adds to a run of lender activity that is widening choice again after a choppier spring. It also shows how competition is starting to reach higher-complexity cases rather than stopping at headline vanilla rates.
Kensington cuts rates across standard and specialist buy-to-let deals
Within Kensington’s Prime range, 75% LTV two-year fixed deals now start at 3.49% with a 5% fee, with alternatives at 4.14% with a 3% fee and 5.63% with no fee. Its 75% LTV five-year fixes now start at 4.59% with a 5% fee, with further options at 4.82% with a 3% fee, 5.12% with a £4,000 fee, 5.22% with a £1,499 fee and 5.34% with no fee.
The lender has also reduced rates in its Prime HMO and MUB range across England, Scotland and Wales. Five-year fixed rates at 75% LTV in that bracket now start at 4.84% with a 5% fee and 5.09% with a 3% fee.
Andy Bickers, commercial director at Kensington Mortgages, said: “Competitive rates are only part of the picture, however. Brokers also need confidence that cases will be handled quickly and efficiently.”
He added that Kensington was still prioritising broker service, with desk-based business development managers available in under a minute on average.
This follows Residential Landlord’s recent coverage of The Mortgage Works cutting buy-to-let rates again, which showed competition was already spreading through the mainstream landlord market. Kensington’s move suggests the same pressure is now feeding into HMO and more structured borrowing too.
Landlords comparing options should also weigh the fee structure as closely as the headline rate. A very low pay rate tied to a 5% fee will not suit every refinance or purchase case, especially where the loan size is modest or the exit plan is shorter.
What the latest lender repricing means for landlords
The practical significance is less about one lender in isolation and more about where it is cutting. By trimming Prime, HMO and MUB pricing together, Kensington is signalling that specialist landlord business remains worth chasing.
That will matter to borrowers whose cases fall outside the cleaner end of the market, including larger shared homes, more complex property structures and landlords who need a product that fits a less straightforward portfolio plan. It also gives brokers more room to compare specialist deals against the growing list of mainstream fixes now back in play.
Landlords should still read the detail carefully. Product fees, stress testing, property type limits and portfolio exposure can all alter which deal is cheapest in real terms. For some borrowers, the best value may still sit with a higher pay rate and a lower fee.
There is also a timing angle. With lenders still adjusting ranges through June, some landlords may be tempted to wait for further cuts. But anyone with a refinance deadline or purchase exchange approaching may be better served by securing an option while pricing remains competitive, then watching for a better fit before completion if the lender allows it. Residential Landlord has also tracked the refinancing pressure facing landlords as older loans mature, which is keeping demand firm even when sentiment is mixed.
For investors using HMOs or multi-unit blocks to defend yield, today’s move is a reminder that lender appetite has not disappeared. The market is still selective, but pricing is improving in areas that matter to hands-on landlords rather than only to plain-vanilla borrowers.
Kensington’s latest buy-to-let product guide sets out the revised rates and fee options.
Opinion
This is the kind of lender move landlords need to watch properly, not just skim for the lowest starting rate. When cuts start reaching HMOs and MUBs as well as standard deals, it usually means competition is becoming more real. The catch is that fee-heavy pricing can still flatter to deceive if borrowers do not run the numbers carefully.
