Lender revises loan product range

Kensington Personal Loans (KPL) has announced new rates for its range of loans aimed at people who may have previously experienced credit problems.

Those looking to compare loans for purchasing a property could benefit from KPL’s revised portfolio, which is available through various intermediaries and packagers.

The range offers loan-value rates of 90 per cent for customers who have arrears, 85 per cent for those with four arrears and county court judgements (CCJs) and 75 per cent for borrowers which have unlimited arrears and CCJs.

Of the changes, KPL’s managing director Alison Hutchinson said: “Our approach was simple – excellent products, rapid decisions, transparent marketing support and, of course, the outstanding service that has been associated with Kensington for over a decade.”

Additional elements to the product range include a same-day pay-out feature and no minimum trading limit for those who are self-employed.

KPL aims to help those who have bad credit histories which could traditionally prevent or limit their borrowing potential. The company describes this group as people who “fall outside the lending criteria of traditional lenders”.

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