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Reliance Bank slashes key worker mortgage rates
Reliance Bank has reduced key worker mortgage rates, including two and five-year fixed rates, while also introducing sub-five per cent mortgages.
Examples include its two-year fixed rate up to 75 per cent loan to value (LTV) with £1,499 fee, which has fallen by 5.3 per cent to 4.99 per cent.
Its two-year fixed rate with no fee up to 75 per cent LTV has decreased from 5.85 per cent to 5.29 per cent.
The lender’s two-year fixed rate with up to 90 per cent LTV with an arrangement fee has decreased from 6.5 per cent to 5.2 per cent.
Its two-year fixed rate up to 90 per cent LTV with no fee has gone down from 6.79 per cent to 5.7 per cent.
The firm’s three-year fixed rate with a fee up to 75 per cent LTV has decreased from 5.25 per cent to 5.01 per cent.
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And its three-year fixed rate up to 75 per cent LTV with no fee has reduced from 5.84 per cent to 5.29 per cent.
Gareth Byrne, head of mortgages for Reliance Bank Ltd said: “We have significantly improved our rates to help Key Workers own a home. And this product range continues to offer cashback incentives for Key Worker Mortgage completions. This helps us deliver positive social impact.”