"I am pleased that we have been able to launch this new exciting proposition to the UK mortgage marketplace. We are keen to help key workers who are looking to purchase or remortgage their own home."
Five-year fixed rates are available at either 75% or 90% LTV, with options for fee paying or fee-free products and a free basic valuation for first-time buyers.
Initial rates start from 1.70% at 75% LTV with a £495 fee and 3.60% at 90% LTV with no fee.
Product fees can be added to the loan and 75% LTV products can be used for both purchase and remortgage. The products cannot be used for shared ownership, Right to Buy or Help to Buy.
One applicant must be employed in a qualifying occupation, including police officers, NHS workers including dentists, care professionals, fire fighters, prison officers, teachers, charity workers, Salvation Army employees, transport workers, and postal services.
In a statement, Reliance Bank said: "We anticipate demand will be high so for that reason this product range could be withdrawn at any time. We expect to be really busy with product applications and we would ask brokers to regularly check our website because this product range could be withdrawn at any time, and also to remember that an AIP does not secure a formal mortgage offer."
Gareth Byrne, head of mortgages for Reliance Bank, commented: “I am pleased that we have been able to launch this new exciting proposition to the UK mortgage marketplace. We are keen to help key workers who are looking to purchase or remortgage their own home. We see this as another step in our ongoing journey to provide a positive social impact.”
