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| Value for Money | 2.8/10  |
|---|---|
| Reviewer Rating | 3/10 |
| Overall Rating | 2.4/10  |
Full review by
Guest.
on 14th Dec 2007
User Rating : 0
Respect :
0
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!
Guest.'s review and ratings | 331 words
Review by
Guest.
on 6th Dec 2007
User Rating : 5
Respect :
0
The 2 year fixed interest rate was quite good till it ended then our mortgage went from 742 a month in the December of 2006 and jumped on a very regular time interval to 952 in less than six months and then there was what is called a 12 month overhang which we were not told about which meant that if we changed from Kensington to another provider we would have to pay Kensington 5000 for the pleasure even though our fixed term had come to an end !!....
All i can say is anyone thinking of using e ...
Guest.'s full review | 146 words
Review by
hotlips
on 7th Jun 2006
User Rating : 7
Respect :
-2
Actually Kensington Mortgages is a sub-prime lender in which case they do not follow the Bank of England but the LIBOR rate. I think Kensington Mortgages are great, they have alway been polite and helpful. They take such a big risk lending us money, the high interest rates are not big prices to pay when we cannot get mortgages or rent elsewhere due to our history.
I Would definately recommend Kensington Mortgages to anyone.
hotlips's full review | 94 words
Review by
Sue De Nimm
on 4th Aug 2005
User Rating : 0
Respect :
+2
Kensington Mortgages are unbelievably dreadful. They will impose random interest rate rises even though the Bank of England rates havent changed (Is this even legal? Im about to find out). They are utterly ruthless & using them will cost far more than any alternative you care to think about - including selling the property.
Sue De Nimm's full review | 62 words | 6 comments added.
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