Kent Reliance has combined its ‘Standard’ and ‘Specialist’ buy to let products into one range and has introduced new five-year fixed products, as well as ‘Large Loan Buy to Let’ and ‘Large Portfolio’ ranges.
The introduction of its five-year fixed rate mortgages for buy to let and residential purchases should also widen its customers’ options.
The lender’s new five-year range is available up to 90% LTV for residential mortgages, 85% for residential interest only and 85% on all buy to let products, except its buy to let large loan, which is available at 80% LTV.
Kent Reliance’s new ‘Buy to Let Large Loan’ has been designed for landlords who wish to borrow £1m or more, or who have a current OneSavings Bank Group exposure of more than £2m.
The new range is purportedly being introduced in response to broker requests for mortgages that cover high net worth landlords with established portfolios.
David Whittaker, managing director, Mortgages for Business says:
“In a period of buy to let uncertainty it’s reassuring to see the resumption of a range of well-priced five-year fixed rates from Kent Reliance that will allow landlords and investors to secure funding well beyond the tax changes and the inevitable tough adjustments to stress tests that will be seen across the market.”
The lender is also refreshing its overall offering, withdrawing many recent buy to let and residential products and introducing dozens more, with rates starting at 3.79%.
Highlights include the introduction of 12 products between £75,000 and £1m to its ‘Buy to Let Standard’ range. Fees of 1.5% apply.
Twelve new products have also been added to the lender’s ‘Buy to Let Specialist’ range, with rates falling between 3.79% to 5.29%.
The ‘Large Loan Buy to Let Standard’ and ‘Large Loan Buy to Let Specialist’ ranges now incorporate 16 new products between them, covering mortgages from £1m to £3m.
All changes came into effect on 10 May.