kensington mortgages review

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Average Ratings

Value for Money	2.2/10
Reviewer Rating	2.4/10
Overall Rating	2/10

20% Recommended1 out of 5 Reviews

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By Guest. on 14th Dec 2007

Guest.'s Ratings

Product	Fixed rate
Repayment Method	Repayment
Value for money	0/10
Overall value	0/10
Guest.'s recommendation

Good Points

Kensington were able to give us a mortgage when other lenders would not - this was purely down to the fact that my partner and I had not long been in new jobs and had not lived in the same house for more than 3 years.

Bad Points

Extremely bad customer service, ridiculous interest rate hikes, even more ridiculous early redemption fees!

General Comments

Kensington were bad from the very beginning. They sent us the wrong mortgage offer at least twice which held everything up. After a few months we applied for additional lending to enable us to fit a new kitchen the process was very long and drawn out and ended up with Kensington telling us we could not borrow any more money as we did not have enough equity in the property - we had a mortgage for 116,000 and the house was worth 135,000!! When I telephoned them and explained the situation I was told "oh, sorry - someone must have ticked the wrong box on the form, you actually can have the money - we'll send you a cheque"!

We had a fixed rate mortgage for 2 years but were tied in for a third year with an early redemption charge of 6000! Our monthly payment is now 991 - 211 more than this time last year and still rising! In September this year the lovely people decided to put their interest rate up by just under one percent - the Bank of England had only put theirs up by a quarter but that wasn't enough for Kensington. We therefore had to suddenly find an extra 66 per month. Apparently they were reviewing their rate again on 1st December so I'm expecting at least another half a percent rise, even though the Bank of England have dropped their rate!

I can finally escape Kensington on 7 March 2008 and I am currently sorting out a new mortgage. Please don't think of using Kensington - have a look for other reviews on the internet and you'll see how bad these lot are!

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