Kent Reliance revamps specialist buy-to-let range
Kent Reliance has launched a high net worth buy-to-let range for landlords looking to borrow over £1m.
Products are available to 80% loan-to-value and feature 2 and 3-year fixed rate and discount products from 3.79% and 5-year fixed rates from 4.19%.
The lender has also reintroduced 5-year fixes, with the residential range being available to 90% LTV, residential interest-only to 85% LTV and buy-to-let to 85% LTV.
Adrian Moloney, sales director, OneSavings Bank, said: “Kent Reliance is committed to offering a range of options based on our broker partners’ needs.
“We have reduced rates across the range whilst maintaining our 85% LTV in our standard and specialist mortgages.
“We have also reduced our minimum loan to help our broker partners give their customers the most competitive product options available.
“These loans will continue to be reinforced by our flexible underwriting and assessed on a case by case basis as this approach has resonated well with our intermediary partners.”
Kent Reliance has combined its ‘standard’ and ‘specialist’ buy-to-let range, meaning brokers will be able to access the same range whether clients are purchasing a single residential unit, multiple leaseholds under one freehold, a HMO, or purchasing via a limited company or limited liability partnership.
Large loan buy-to-let rates include a 2-year fix at 3.99% to 75% LTV and a 3-year fix at 4.19% to 75% LTV with a 1.25% fee.
David Whittaker, managing director of Mortgages for Business, said: “In a period of buy-to-let uncertainty it’s reassuring to see the resumption of a range of well-priced 5 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.”
Ying Tan, managing director of The Buy to Let Business, added: “It’s encouraging and reassuring when lenders listen and react to what the intermediary market is saying.
“Kent Reliance has certainly done this with their new exciting range. 5-year fix products are becoming more popular with landlords as they look to give certainty to their repayments in a market which is constantly moving, the fact rental coverage is at payrate makes it attractive particularly for lower yielding properties in London and the South East.
“Bringing standard and specialist under one umbrella also simplifies their proposition which is important with increased complexity in our market and will separate Kent Reliance from their competition.”