Kent Reliance extends availability of its ‘near prime’ product range

by:
  • 22/05/2018
  • 0
Kent Reliance extends availability of its ‘near prime’ product range
Specialist lender Kent Reliance has extended distribution of its ‘near prime’ mortgage range across its broker network after an initial trial period.

 

Under the range, borrowers in debt management plans are considered, as well as those who are one-year self-employed.

There are also no value limits on CCJs, arrears or defaults, and communications, mail order and utilities arrears are ignored if under £500.

Rates start from 3.19% and loan to value goes up to 90% and includes first-time buyers.

Adrian Moloney, sales director at Kent Reliance’s parent company OneSavings Bank (pictured), said: “The initial reaction from both intermediaries and their clients has been very positive; therefore it was a natural progression to open our Near Prime range across our entire broker network.

“This range offers customers increased choice, particularly those with specialist needs who are currently underserved and not able to access credit from mainstream lenders.”

“The extended distribution reflects Kent Reliance’s continued commitment to the market to ensure our brokers receive the best possible service, supported in-house by our specialist manual underwriting team.”

Danny Belton, head of lender relationships, Legal & General Mortgage Club added: “Specialist lending in the residential sector continues to grow as the number of customers that have poorer credit histories and CCJs that are explainable, or one-offs increases.

“There are still a number of good customers that require a near prime type of product and criteria, and the Kent Reliance proposition provides welcome opportunities and competition in this sector.”

There are 0 Comment(s)

Comments are closed.

You may also be interested in

Bridging

Keep up-to-date with all the breaking bridging and short-term lending news and analysis, from regulatory changes to product innovation and inside market knowledge. Take a look at our broker and lender case studies showing short-term finance in practice.

Commercial

Find all the news, opinion and analysis for property finance brokers specialising in commercial and semi-commercial mortgages, alternative and development finance for commercial investments in residential projects.

Second charge

Stay up-to-date with the latest news, analysis and opinion on the secured loan market as it evolves into a mainstream finance option following European regulation on 21 March 2016.

Complex buy-to-let

Whether it’s a complicated asset or a complex customer, you’ll find out all the breaking buy-to-let news in this section. From limited companies to portfolio landlords, student lets to a House in Multiple Occupation, we’ve got all bases covered with our up-to-the-minute news, analysis and opinion.

Mortgage Solutions

Find all the breaking news, analysis and industry comment on Specialist Lending Solutions' sister site, Mortgage Solutions
Read previous post:
John Goodall, Landbay
HMO licensing – the potential pitfalls for landlords – Landbay

From 1 October, the government will be tightening regulations for house in multiple occupation (HMO) to improve the general standard...

Close