Kent Reliance has revamped its product range with major changes to pricing, loan size and fixed rates.
The changes include:
Alignment of standard and specialist buy-to-let under one proposition
Re-introduction of five-year fixed products across residential and buy-to-let mortgage ranges, with loan amount calculated at pay rate
New Large Loan buy-to-let / Large Portfolio range
Minimum loan reduced to £75,000 (from £100,000) across most products
Price reductions throughout the range
The five-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 five-year fixed rates will be at the mortgage pay rate.
The Large Loan / Large Portfolio product range 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 two and three year fixed rate and discount products from 3.79% and five-year fixed rates from 4.19%.
David Whittaker, managing director of Mortgages for Busines, said: “In a period of buy-to-let uncertainty it’s reassuring to see the resumption of a range of well-priced 5 year fixed rates from Kent Reliance that will allow landlords and investors to secure funding well beyond the tax changes and the inevitable tough adjustments to stress tests that will be seen across the market.”
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