Kent Reliance cuts rates on buy-to-let range

by: Carmen Reichman
  • 23/02/2017
  • 0
Kent Reliance cuts rates on buy-to-let range
Kent Reliance has cut the rates on its entire range of specialist buy-to-let products to as low as 2.99% effective from 24 February.

The price reductions will apply to the lender’s two and three-year specialist products for limited company borrowers looking for funding for houses in multiple occupation and multiple flats under one freehold.

They supplement the changes made to five-year fixes in early February, which saw rates cut to 3.59% with borrowing available on loans ranging from 65% to 85% loan-to-value.

Kent Reliance is part of specialist lender OneSavings Bank. Sales director, Adrian Moloney (pictured), said: “As tax and regulatory changes continue to impact the market, specialist lenders need to adapt quickly to support these changes. These rate reductions are in direct response to the feedback received from our brokers who are actively seeking products for the increasingly evolving landlord market.”

In January stricter underwriting requirements came into force in an attempt by the regulator to curb the buy-to-let market and ensure financial stability with lenders. These rules will be followed by tax relief cuts for landlords from April.

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