Mortgages  

Kent Reliance unveils new five-year fixes

Kent Reliance unveils new five-year fixes

Kent Reliance has made widespread changes to its product range, including rate reductions, aligning limited company pricing to pricing for individual borrowers, and new large loan/portfolio products.

The lender has re-introduced its five-year fixes across residential and buy-to-let, with the loan amount calculated at pay rate. Products are available immediately.

The minimum loan level has also been reduced from £100,000 to £75,000 across most products.

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Five-year fixes in the core range have returned in response to consumer demand, which is now available up to 90 per cent loan-to-value (LTV), 85 per cent LTV on residential interest only deals and 85 per cent on all buy-to-let products, or 80 per cent on all buy-to-let large loans.

In response to requests from its broker partners, Kent Reliance has also launched a new large loan range.

Specifically designed for landlords who wish to borrow £1m or more, or who have a current exposure of more than £2m with parent company OneSavings Bank Group, deals are available up to 80 per cent LTV across two and three-year fixed rate and discount products from 3.79 per cent, and five-year fixed rates from 4.19 per cent.

Adviser view:

David Whittaker, managing director at Mortgages for Business, said in a period of buy-to-let uncertainty it was reassuring to see the resumption of a range of “well-priced” five-year fixed rates “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”.

peter.walker@ft.com