Fee assisted residential remortgage

Fee Assisted Residential remortgages from Kent Reliance allow residential customers remortgaging a standard property valued up to £500,000 and selecting a product below to:

  • Have their standard valuation fees refunded within 30 days of  successful completion of their mortgage.
  • Benefit from a fee assisted conveyancing service from Optima Legal, resulting in a faster and more simplified legal process

Products are also available for Unencumbered properties and remortgages where additional borrowing is being sought.

If additional work is required by Optima your client will be responsible for these fees. See Additional Fees.

Up to 90% LTV available
5 year products available
v1

Product detail

LTV Mortgage type Term Initial rate Product fee Min loan size Max loan size Early repayment charge* Product code
85% Discounted Variable1 2 3.54% 0.5% £100,000 £500,000 No ERCs 01185 KRFE1704
85% Fixed 2 3.89% 0.5% £100,000 £500,000 3% in years one and two 01186 KRFE1704
85% Fixed 3 4.09% 0.5% £100,000 £500,000 3% in years one, two and three 01187 KRFE1704
85% Fixed 5 4.09% 0.5% £100,000 £500,000 3% in years one, two, three, four and five 01188 KRFE17F5
90% Discounted Variable2 2 3.84% 0.5% £250,000 £500,000 No ERCs 01189 KRFE1704
90% Fixed 2 4.19% 0.5% £250,000 £500,000 3% in years one and two 01190 KRFE1704
90% Fixed 3 4.39% 0.5% £250,000 £500,000 3% in years one, two and three 01191 KRFE1704
90% Fixed 5 4.39% 0.5% £250,000 £500,000 3% in years one, two, three, four and five 01192 KRFE17F5
12.29% | 21.99%

Minimum loan £75,000. Maximum property value £500,000. When the LTV exceeds 75%, a minimum loan of £100,000 is applicable. 

The Standard variable rate (the revert rate) is 5.83%.

Application fee £130 payable at time of application. This is to cover assessing and processing the application (even if the application is unsuccessful or is withdrawn). Please note that applications will not be processed until this fee is received.

All of our products are subject to availability and may be withdrawn at any time.

*ERCs may be incurred for full redemption or repayment of capital.

The following are excluded:

  • All residential purchases 
  • Property values greater than £500,000
  • Shared ownership cases where less than 100% is owned by the customer and which falls outside the banks lending criteria
  • Cases where there is a defect or issue with the title where the firm takes the view that the customer needs to instruct their own solicitor
  • Cases where the customer has appointed an attorney to manage their affairs 
  • Cases or lending that include guarantors 
  • Transfer cases where there is a material and irretrievable dispute between the parties
  • Cases where the customers own interests conflicts with the banks interest
  • Applications from packagers

Product terms and conditions

For fees assisted remortgages, conveyancing is provided to Kent Reliance by Optima Legal.

The legal fees payable to Optima Legal acting on Kent Reliance’s behalf in connection with a remortgage will be paid by Kent Reliance. Please note, Optima Legal will act only upon Kent Reliance’s behalf.

If your client instructs their own conveyancer or solicitor in connection with this remortgage, they will be responsible for all fees payable to them.

If the legal work for your client’s remortgage involves more than the straightforward standard conveyancing (for example, if your client wishes to carry out a transfer of equity or add/remove parties to the mortgage), your client will be responsible for the legal fees payable to Optima Legal in excess of the standard cost of conveyancingIf additional work is required by Optima your client will be responsible for these fees.

For fees assisted remortgages, the fee for a standard valuation is payable by your client on application and will be refunded by Kent Reliance within 30 days of Completion if (i) the remortgaged property is valued at or below £500,000 by Kent Reliance’s appointed valuer and (ii) the remortgage Completes. If your client wishes to instruct a valuer to carry out a Homebuyer’s valuation report or any more detailed valuation, your client will be responsible for such valuation fees and they will not be refunded.

  • These products are only available on a repayment basis. Interest-only or part repayment/part interest-only may be available only by exception.
  • At the end of any initial deal, the interest rate will revert to the Standard variable rate.
  • The Standard variable rate can vary in line with the general level of interest rates and economic conditions.
  • If your client makes any lump sum payments or repays the loan within a special deal period, an early repayment charge may be payable. Please refer to the early repayment charge section of the table for details. Payments up to a maximum of £499 per month can be made without incurring an early repayment charge.
  • A list of our fees and charges accompanies all Mortgage Illustrations.
  • The minimum mortgage term is 5 years and the maximum is 35 years.
  • The maximum loan size is £3m.
  • Interest is added to the mortgage account for the period from the date the loan is made until the last day of that month. Thereafter, interest is charged monthly on the balance outstanding at the end of the last month. Payments in excess of the required monthly payment will have the effect of reducing the balance outstanding and the amount of interest to be paid.
  • These mortgage products are portable. Even if your client moves home during the initial special deal period of a mortgage, the remaining benefits (up to the outstanding balance of their existing mortgage) of that special deal can be transferred to their new mortgage with us, subject to our lending criteria at the time of any move. In this case, any early repayment charges will not be charged but the existing rate will not apply to any additional funds that your client borrows.
  • All mortgage products are subject to availability of funds and can be withdrawn at any time.
  • ERC percentage based on the remaining capital balance.

For interest-only or part repayment/part-interest only, it is your client's responsibility to ensure they have sufficient funds available at the end of the term with which to repay the loan.

All loans are subject to availability, status, valuation and approval, and are available in England and Wales only. Applicants must be aged 18 or over. Maximum age at the end of the mortgage term is 85. Written quotations are available on request.

OneSavings Bank plc is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority (registered number 530504) for general insurance intermediation and regulated mortgages

YOUR CLIENT'S HOME MAY BE REPOSSESSED IF THEY DO NOT KEEP UP REPAYMENTS ON THEIR MORTGAGE


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