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Precise and Kent Reliance restart lending with product launch

  • 17/04/2020
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Precise and Kent Reliance restart lending with product launch
Precise Mortgages and Kent Reliance are recommencing lending with the launch of a new set of residential and buy-to-let (BTL) products today.


The pair stopped accepting new applications and put all cases which had not yet progressed to offer on hold at the end of March as a result of the coronavirus crisis.

However the lenders, which merged last year, have now launched offerings up to a maximum 60 per cent loan to value (LTV) by utilising desktop valuations.

No assessment or valuation fees are being applied, property values between £75,000 and £600,000 are eligible with a maximum loan size of £360,000.

The lenders will allow applicants whose cases are on hold to transfer to the new products where the criteria fit and advisers and clients agree it is suitable.

This can include reducing the loan to value amount on the application.



Certain property types are excluded and these include:

  • New build property or converted in last 24 months;
  • Properties that have never been occupied;
  • Studio flats;
  • Flats in blocks over six storeys;
  • Flats with suspected cladding or combustible balconies;
  • Shared ownership and right to buy;
  • Properties with land over two acres;
  • Listed buildings;
  • Modern methods of construction;
  • Leases of less than 85 years;
  • Properties adjacent to or above commercial premises;
  • Properties subject to renovation/refurbishment.

Both lenders added that brokers should contact business development mangers with questions.


Reviewed by underwriters

Documentation from the lenders’ websites said: “We can now accept desktop valuations for new and existing cases that are in line with our current criteria, and the new criteria listed within this document.

“Desktop valuations will be reviewed internally once they have completed. Please note that this may result in cases taking longer than normal to progress, so please bear with us during this time.

“Once the valuation has been reviewed by the underwriter and they’re happy to proceed, the case will be processed in the usual manner.

“Due to the nature of desktop valuations, we’re unable to accept any valuation challenges, and the underwriter’s decision will be final,” it added.


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