Kensington Mortgages has launched ‘Premier’ a new range of mortgages for those looking to borrow in excess of £500,000.
The range, which is aimed at borrowers with complex incomes and high service expectations, offers loans up to £2m – with a limit of £1m for first-time buyers.
Loans will be available up to a maximum 75% LTV, with rates of 3.44% for a 2-year fix and 3.74% for a 3-year fix.
Underwriters will consider 100% variable incomes as standard and will assess self-employed borrowers based on figures from their latest annual returns.
Steve Griffiths, head of sales and distribution, Kensington Mortgages, said: “As house prices continue to increase, more and more people are looking to take out larger mortgages, particularly when it comes to securing homes in some of the most in-demand areas across the UK.
“It has always traditionally been harder for the self-employed or contract workers to obtain mortgages with lenders erring on the side of caution when it comes to complex incomes. We believe that anyone who can afford a mortgage should have the opportunity to do so and should not be penalised for their chosen career.”