Kent Reliance launches resi range and cuts BTL rates

Within the residential range from Kent Reliance, its income flexibility range for customers who need flexibility around income multipliers is available up to 95 per cent loan to value (LTV) up to £1.5m.

Its extra flexibility range, for borrowers who need flexibility due to the credit profile, is available up to 85 per cent LTV.

Core residential fixed rates at 85 and 90 per cent LTV have fallen.

In the shared ownership range from Kent Reliance, all product fees have been removed and rates on 95 and 100 per cent mortgage share value (MSV).

In its BTL range, 80 per cent LTV fixed rates have dropped by 0.5 per cent.

Full range rates from 4.59 per cent are suitable for any property type, including houses of multiple occupancy (HMOs) with up to 20 lettable rooms.

Adrian Moloney (pictured), group intermediary director at OSB Group, said: “With the current economic backdrop, we were keen to provide some positive product options for brokers, as we understand the challenges they are facing across the board.

“At the end of the day, there are always clients wanting to transact, whether it’s for the next step towards a family home or an investment property, so it’s important as a lender that we listen and adapt accordingly. For example, our income flexibility products were designed to help newly qualified professionals looking to purchase their first home but needing flexibility around income multipliers.”

Wayne Gray, managing director of DMI Finance, said: “KRFI are a key lending partner and these products and reduced rates will certainly be welcome news, especially for our residential clients who need just a little more flexibility in order to secure their dream property.

“Alongside this positive news, we really value the support of KRFI’s award-winning BDM team, as they take the time to talk through case complexities, which can make a real difference towards securing a positive outcome.”