... They referred us to a company called Kensington Mortgages and the broker in easy terms explained basically the types of mortgages they did.
We knew that we would pay for a higher rate due to our circumstances and we pay just over 6% compared to an average mortgage of just over 4%.
The ... Read review
Advantages: We have our own home Disadvantages: higher interest rates
...us to a company called Kensington Mortgages and the broker in easy terms explained basically the types of mortgages they did.
We knew that we would pay for a higher rate due to our circumstances and we pay just over 6% compared to an average mortgage of just over 4%.
The forms come through and the broker was great and we really made him work for the £500. We had been to see other brokers who wanted it up front but decided ... ...in the house, we approached Kensington to see if we could have an advance. We looked at other companies but decided to keep everything in one basket. This is now going through and we are having a surveyor around on Monday and then they will tell us how much we can have. By doing this, our only outgoing will be utility bills and the mortgage which is a great feeling and the house will be totally modernised.
Well house prices are rocketing around where I live and this time last year Gary and I was sitting in a concrete flat with neighbours from hell and myself fast losing the plot.
We had put bids in for houses and were outbid and gazumped. So we had lost a lot of money and stopped searching whilst we could get the 10% together again.
Then we scraped together the money and all of a sudden, a £50,000 house was going for nearly £70,000 so we were getting to the stage were we were nearly off the ladder. We decided that the only way we could was to buy our concrete flat and that was going through when we saw the house opposite getting repossessed.
Earlier that year we had looked at all the different mortgage companies and were totally confused as to which one and what sort we could go for, so we decided to go with a mortgage broker.
His fees were £500 at the completion and nothing if it failed. Ok I knew he would get commission as we let him do everything but to us this would be £500 well spent rather than trapsing around building societies and the like.
Ours was not a easy situation as hubby had 2 CCJs from when he was retired but we had paid them off and had proof and really we never thought we would ever get a mortgage. They referred us to a company called Kensington Mortgages and the broker in easy terms explained basically the types of mortgages they did.
We knew that we would pay for a higher rate due to our circumstances and we pay just over 6% compared to an average mortgage of just over 4%.
The forms come through and the broker was great and we really made him work for the £500. We had been to see other brokers who wanted it up front but decided against that, so it was in his interest for us to complete. He helped us with all the forms and we had gone for one where we did not have to prove our income, although we could have.
Within a couple of weeks the mortgage was through and there were some little quirks along the way but nothing serious. Our house only cost us £45,000 so we put over 10% down and our payments are cheaper than the rent on the flat we had at the time.
The house was in a bad state and the other day we were looking at pictures of it last year and said we were nuts to take it on. But for us it has been a sucess as in the last 6 months house prices have nearly doubled around here.
Ours is not up to that standard yet but will be hopefully by the end of the year. Last week an identical house went on the market for £95,000 and it is nothing spectacular, but has a garage and a consevatory.
So now we knew that there could be £50,000 of equity in the house, we approached Kensington to see if we could have an advance. We looked at other companies but decided to keep everything in one basket. This is now going through and we are having a surveyor around on Monday and then they will tell us how much we can have. By doing this, our only outgoing will be utility bills and the mortgage which is a great feeling and the house will be totally modernised.
They have been brilliant from start to finish and they do not judge a book by its cover, when others have said no, they have said yes and the service is bang on and they treat you like normal people not a blot on the landscape.
They are really professional and if they say they will send you something they do and quick.
Also after a year if you have been a good mortgage payer, your mortgage interest rates drop, which to be fair, they were taking a risk on lending us the money and it is up to us to re write history as such. We have never missed a payment and the money is always there ready and waiting for the day.
They also do other mortgages like endowment but these are really frowned upon now as a lot of them are not earning their true potential so be very careful of them.
Capital and Interest is ours, it is a repayment mortgage which is a bit higher, but we have piece of mind that no matter what, when the 25 years is up, you are left with nil balance.
They do different types of mortgages and it would be totally unfair of me to go into them as they are tailored for each customer as they are specialist mortgage people. So two mortgages are never the same.
I did try a few other companies before trying them and they did not seem to care about personal circumstances and if anything you had to have an impeccable record to get a mortgage and then it would only seem that they were only bothered with what they could get out of you. One of them was my bank Halifax who said no to us, but now there is thousands sitting in the bank account, they have turned turtle and trying to get me to change over to them and get this, that and the other. No thanks, my company is great and I will stick with them.
They also own TML - The Mortgage Lender and they are a susiduary company of Kensington and friends have used these in the past and have been happy with the services that they have got.
If it wasn't for people like Kensington who gave people like us a second chance then we would not be on that ladder.
Ok, so the pitfalls are higher interest rates and the brokers fees, but to us this was the best financial thing we have ever done and in April and May our new kitchen and the garden is all been landscaped. Life is so different at the moment and the only stress in our lives is my mum, who by the way has had her results through today. (See About Me).
So things are relaxed and everyday when I go to bed, I realise just how lucky we are to be on that ladder and have our own little love nest.
From start to finish, our mortgage took us 8 weeks to complete.
Kensington Mortgages - 0870 5561040 1 Providence Place Skipton North Yorkshire
Advantages: We got our lovely little house Disadvantages: high interest rates
...This is where Kensington Mortgages come in as they only deal with brokers or financial institutions when people have been turned down for a loan. All the papers were signed with the broker and sent off to Kensington and we were told to go and choose a house and then contact them via the broker.
We found our house which was repossessed and a bit of a state and were prepared to go up to £75k. We fell off our chairs when they came in with a valuation ... ...This then was passed onto Kensington who would only speak to our broker and not us direct.
We were kept informed and when we were told things were ready to go ahead we were chuft and told our solicitor to proceed quickly as repossessions are supposed to complete within a month. About a month later we got a message from the broker saying that they would not deal with our solicitor as he was a sole partner, we had to have ones who had more than one ...
BUBBLES171 27.12.2003
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Ciao members have rated this review on average: very helpful Review of Kensington Mortgage Company
Advantages: You get what you need out of them Disadvantages: Obscenely high interest rates, no reward for loyalty.
...We were directed to Kensington via a local Broker, which I have now learnt to be probably more to do with their high rate of commision to the broker and little to do with our own personal circumstances.
The most they would offer us was £60,000 despite the value of the house being £30,000 more. This was largely due to the absolutey massacred state of my partners credit rating because of the joint finances the ex left her paying..... and the fact ... ...By the time all the kinks were ironed out, including removal of a charge on the house thanks to the cursed ex, we were relatively happy to have settled, had enough left over for the rest of the double glazing and a fixed rate of 5% over one year. We also had to arrange our own buildings and contents insurance, and refused to accept their life insurance policy as another way of earning our broker commission and paying them even more money than we ...
jedimasterlincoln 21.01.2008
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Ciao members have rated this review on average: very helpful Review of Kensington Mortgage Company
Advantages: none Disadvantages: very expensive and our always delaying by 2 months plus ? joining they interest rate drop
...snag iv got 2 mortgages kensington & capital home loans kensingtons mortgage £233.000 im paying £833 a month capital home loans £296. 500 im paying £433.00 a month im also in a tied in for 3 years with kensington wich ends in december thank god £14000 charge if id of sold before my 3 year contract ended as plus they dont allow you un der no circumstances to be able to draw down off your property no matter how much equity you.v got also there lack ... ...? high rates compared to other lenders? impossible to draw down ? and if you should lose your job ,and youv built a lovley extension on your house your shnucked, they cant even get repossetion prices.{1} my advice dont go self cert .{ 2} if you.v got a big deposit keep hold off it and rent why 'buying is dead money right now at least your only signed up for 6 months plus your in absolute controle off your money. as the saying goes at this present ...
BOOTSO 02.05.2009
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Ciao members have rated this review on average: helpful Review of Kensington Mortgage Company
Advantages: None Disadvantages: The Worst Mortgage Co in the UK
...this time my experiemces with Kensington Mortgage Company has been horrific. They will quite happily tell anyone who asks them that they dont care about customer service because as they see it anyone who is their customer does so because they have, and have no other choice, not because they choose to.
People often use Kensington because they are loud and brash and manage to get the attention of very many brokers touting for the broker to give them ... ...many brokers place you with Kensington over the others is that they pay more commission - nothing to do with whats good for you. Take my advice steer well clear of Kensington. If you have slight adverse credit you may find that Abbey or Chelsea will help you. If these say no then try the higher level of sub-prime lenders. This includes such lenders as Birmingham Midshires, GMAC, Igroup, Preferred, Platform, SPML and so on. Only once you exhausted ...
SteveDunstable 14.06.2005
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Ciao members have rated this review on average: helpful Review of Kensington Mortgage Company
Quality of Customer Ser...
Quick review of Kensington Mortgage Company
DO NOT USE KENSINGTON FOR NO REAsON AT ALL, i got a mortgage from then on 6.3%. between a year and a half , it rose up to 9.10 which i'm having problem in paying.because i'm missing a 6 weeks, they took me to court now i've put the house on the market. hope fully i'll sell it before the take it off me because thats their plan ...
yomi 24.05.2007 (23.05.2007)
Ciao members have rated this review on average: helpful Review of Kensington Mortgage Company
