Kensington Standard Rate (KSR) is a variable interest rate which is set by us on a quarterly basis and is based on the Bank of England Base Rate (BBR) plus an adjustment of between 0% (zero) and 1% to take account of our costs in funding your loan. KSR will not be set lower than or higher than 1% above the Bank of England Base Rate at the time we set the rate. KSR will never be lower than BBR (or 0%, whichever is greater), nor more than 1% above BBR at each date on which it is set. If BBR is lower than 0% (zero) at the time we set KSR we shall deem BBR to be 0% (Zero). KSR may vary in accordance with our mortgage terms and conditions.
KSR will be applied for all new mortgage applications placed after 1st October 2020.