Kent Reliance is revamping its core mortgage range by combining its ‘Standard’ and ‘Specialist’ Buy to Let range. As a result, brokers will now have access to the same range irrespective of whether their client is purchasing a single residential unit, multiple leaseholds under one freehold, a HMO, or purchasing via a Limited Company or Limited Liability Partnership.
Kent Reliance has also re-introduced 5 year fixed rates into its core mortgage range in response to consumer demand. The 5 year fixed range is available up to 90% LTV on the Residential range; 85% on the Residential Interest Only and 85% on all Buy to Let products (80% on all Buy to Let Large Loan). The affordability assessment for 5 year fixed rates will be at the mortgage pay rate.
In response to requests from broker partners for specific large loan products that target High Net Worth landlords with established portfolios, Kent Reliance has also launched a new Large Loan/Large Portfolio product range. This has been specifically designed for landlords wishing to borrow £1million or more, or who have a current OneSavings Bank Group exposure of more than £2million. It is available up to 80% LTV and features 2 and 3 year fixed rate and discount products from 3.79% and 5 year fixed rates from 4.19%.
Adrian Moloney, Sales Director at OneSavings Bank, said:
“Kent Reliance is committed to offering a range of options based on our broker partners’ needs. We have reduced rates across the range whilst maintaining our 85% LTV in our standard and specialist mortgages. We have also reduced our minimum loan to help our broker partners give their customers the most competitive product options available. These loans will continue to be reinforced by our flexible underwriting and assessed on a case by case basis as this approach has resonated well with our intermediary partners.”
