Kensington Mortgages

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Kensington Mortgages
Topic Started: Apr 11 2006, 01:22 PM (316 Views)
whistleblower	Apr 11 2006, 01:22 PM Post #1
www.saynotoyes.co.uk Posts: 2,649 Group: Admin Member #1 Joined: May 13, 2005	Kensington Mortgages Kensington Mortgages provides mortgages through intermediaries to borrowers who fall outside the lending criteria of traditional lenders. The product range is designed to meet the needs of a range of borrowers, from those with limited adverse credit histories to those with higher adverse credit histories. Have you or do you know of anyone who has had dealings with the business. We would like to have your feedback. Kensington Mortgages
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kevin b	Apr 11 2006, 07:51 PM Post #2
Posts: 103 Group: Silver Member Member #239 Joined: December 27, 2005	whistleblower Apr 11 2006, 01:22 PM Kensington Mortgages Kensington Mortgages provides mortgages through intermediaries to borrowers who fall outside the lending criteria of traditional lenders. The product range is designed to meet the needs of a range of borrowers, from those with limited adverse credit histories to those with higher adverse credit histories. Have you or do you know of anyone who has had dealings with the business. We would like to have your feedback. Kensington Mortgages hi whistleblower Just over a year ago we decided to put our flat on the market as it was getting too small for us. We had edverse credit rating so we had 2 plans of action. 1 Sell the flat and reat a proprty for a year or two to get our feet back on the ground. (we had quite a bit of equity) or 2 aprroach TML to see if they could help us out in anyway, after all it was thier big selling point, helping out people in our position. We approached TML first, told them our situation, what we had to sell, what we were hoping for loan wise, how much deposit we had to pay (Ł20k). All the usual stuff. Now you would be thinking why be apprehansive with TML if with a Ł20k deposit and thier promises on TV. Well here goes Around 2 years ago, we were hoping to sell our flat and move into something bigger, the market wasn't as bouyant as it is now, so the equity we had was only about Ł7,500. So we spoke to TML and they said yes they would lend us Ł52K if we put a Ł5k deposit down. We duly arranged this and had our flat just about sold to a work colleague, this is when the trouble started, things were getting held up and everytime i rang it was one excuse after another as to why the loan hadn't gone through. In the end I approached someone and asked outright what the hold-up was, and he told me that the finance company at that time would only lend us the money if we raised our deposit to Ł10k. There was no way we could do this so the sale of the flat fell through, and everything else ground to a halt. On top of this we lost Ł395 deposit we had to pay up front, which we could ill afford to lose. So, that is why we apprehensive about going back to TML. This time however, we had a very nice financial advisor come to our house and took us through all the stages of what was going to happen and what could happen if things ever went wrong. (this time there were no up front fees). As he left he said "thank you very much and I hope you enjoy your new house" Yeah we thought, another one that will never materialise. But, to our surprise the mortgage was through within 6 weeksand moved into our new house 12 weeks after selling our flat, (it took that long because the person buying ours took so long getting her money together). So, all in all the mortgage was through Kensington via TML and we had no problems with them, right from the very beginning phoning up, them organising solicitors, and to the very end where we signed the contracts both TML and Kensington were and still are excellent examples of how some sub-prime lenders can work. Hope this information is of use to you, but we as yet can not pick fault with Kensington Mortgages. regards kevin



jude2153	Apr 12 2006, 08:18 PM Post #3
Posts: 114 Group: 'Gold' Member Member #252 Joined: January 7, 2006	I applied for a mortgage through kensington and have to say there were no problems at all. We were only asked to pay a Ł50 admin charge which we had no problem with plus the normal surveyors fee. The mortgage offer was made to us within about 3 weeks and although the interest rate was higher than high street lenders we couldnt grumble as thats what you have to expect when you approach kensington or similar lenders. Fortunatly for us ( tho it didnt seem it at the time ) the sale of our house fell through so needless to say we couldnt go ahead with the mortgage....but...a couple of weeks later we had another offer on our house which was much higher and enabled us to buy the house we are now in cash. ohhh what a great feeling to have a lovely house and mortgage free......as for kensington they fully understood why we withdrew so again no complaints at all.



deltic	Apr 20 2006, 02:40 PM Post #4
Posts: 3 Group: Members Member #365 Joined: March 31, 2006	Hi Guys We got our mortgage through Kensington last July. The process took quite a while but we were buying my dads house which we were renting so. Then around christmas they sold our mortgage to Mortgage Express (Part of Bradford & Bingley) so can't say we've had much bother aaa



jezmeister	Feb 8 2007, 08:03 PM Post #5
Posts: 2 Group: Members Member #1,035 Joined: February 8, 2007	When i applied with kensington all was well and good for the first year. Then after the fixed rate finished all hell broke loose. My rate went from 6.00% to 8.40 in 6 months!!!! They are now taking me to court to resposess my house,even though i have put forward a realilistic payment plan to clear my arrears. Watch these sharks,they are bad news.



Buzz	Feb 8 2007, 08:20 PM Post #6
www.saynotoyes.co.uk Posts: 1,399 Group: Members Member #2 Joined: May 17, 2005	Hi Jezmeister, Welcome to Saynotoyes. I have sent you a PM regarding your kensington post. Buzz
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