British lender Kensington Mortgages is to launch fixed-rate mortgages of up to 40 years on Tuesday.
The loan will be one of the first products of its kind in the UK market. Kensington has partnered with Rothesay, the UK’s largest pensions insurance specialist, which has more than £60bn in assets, to finance the longer-dated mortgages.
Its “Flexi Fixed for Term” mortgages will allow borrowers to fix the rate paid on their mortgage for the full term of the loan, anywhere between 11 and 40 years.
