Inflation. Rising cost of living. Energy prices. All topics that have been
dominating UK news headlines since the start of the year, and with economists
predicting that further increases could be on the horizon, it’s understandable
that now more than ever your clients may be worried about either getting a
mortgage or remortgaging.
While there has always been a need to provide more support for those who
want to utilise low deposit schemes to help them onto the first step of the
ladder, it is essential to also bear in mind the second steppers, home movers
and remortgagers. They may not need as much support in the actual home
buying process, but they do need to understand how their affordability has been
impacted and what this means when it comes to the options available to them.
Remortgaging is strong and set to remain
so throughout the year
The Covid-19 pandemic changed a lot
more than any of us could have predicted,
but one of the biggest trends that arose
from the lockdowns was the importance of
making the most of our homes and gardens.
Unsurprisingly, this meant a lot of your clients
will have been looking to extend, landscape
and adapt their homes and for those with
equity in their properties, to remortgage to
free up money to renovate.
Then there are the customers who were
financially affected by the pandemic who have
been joined by the many people affected by
the rising cost of living. Those of your clients
whose income took a hit throughout 20/21,
those who have been through life events
and maybe even those who after the last
18-24 months are re-evaluating their finances
and investments. And it is these clients that
may find themselves needing a specialist
mortgage solution for the very first time and
who will need your support with explaining
the difference between a specialist lender and
a traditional high street lender. Knowing that
with circumstances such as variable income,
overtime or credit blips doesn’t necessarily
mean they can’t still get the mortgage they
need for their circumstances.
With Kensington, customers with variable
income, credit blips or those who have moved
from permanent to self-employment can still
get a mortgage and benefit from things such
as cashback, free valuations or free legals.
Plus, we don’t charge application fees.
For like-for-like remortgage cases, we can
speed up the process for both broker and their
customers by using automated valuations.
Product Transfers provide swift, secure
peace of mind
For customers nearing the end of their fixed
term, Product Transfers are a convenient
solutions when there have been no changes
to the customer’s circumstances, and they
want the security of being on a fixed rate in a
market with fluctuating interest rates and cost
of living increases.
Kensington has just launched their own
Product Transfer portal for brokers which
offers a seamless, fully digital end-to-end
experience. For every client they switch,
Kensington pays a procuration fee in the
usual way, and they can see the same options
as their clients to make the conversation
between them easier.
Ways we support our broker partners
As your guidance and advice is as sought after
as ever, this is the ideal time to look to lenders
for support and service to help you help your
clients. At Kensington, we are always looking
at what we can do to offer more support for
our broker partners so that you can serve
your clients as easily as possible. From our
new Product Transfer portal, to our dedicated
service hub, K-hub, through to webchat with
our TBDMs. In addition, our market-leading
webinars provide market updates, trends
and insights from industry experts and count
towards your CPD requirement. Our most
recent webinar: Inflation, Affordability &
how it’s impacting the mortgage market is
available on our YouTube now.
RETAINING YOUR
CLIENTS IS MORE
IMPORTANT THAN EVER
ELOISE HALL• INTERIM HEAD OF NATIONAL ACCOUNTS
K M LIT 0050
Kensington and Kensington Mortgages are trading names of Kensington Mortgage Company Limited. Registered in England & Wales: Company No. 03049877. Registered
address: Ascot House, Maidenhead Office Park, Maidenhead SL6 3QQ. Kensington Mortgage Company Limited is authorised and regulated by the Financial Conduct Authority
(Firm Reference No. 310336). Some investment mortgage contracts are not regulated by the FCA.
Eloise Hall – Interim Head of National Accounts.
Eloise joined Kensington Mortgages as National Account Manager in 2019,
bringing a wealth of experience from both Leeds Building Society and Principality
Building Society, and has worked with many accounts throughout the UK. Eloise
has continued to grow Kensington’s brand as an innovative and forward-thinking
specialist lender, and in 2021 won the British Specialist Lender award for Lender:
Business Development.
#KensingtonDifference
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