Kent Reliance for Intermediaries, part of the specialist lending and retail savings group OneSavings Bank plc, has today re-introduced its shared ownership residential product range, which is available on purchase or re-mortgage applications, up to a maximum of 75% LTV.
The specialist lender can offer up to 100% of the share loan from a minimum of £50,000 and up to a maximum of £1,000,000, meaning that first time buyers won’t require a large deposit in order to purchase a property. To enhance their offering further, the shared ownership product range will also now be reverting to the Bank of England base rate tracker of 4.50%.
This re-launch from Kent Reliance for Intermediaries follows the recent announcement from sister brand, Precise Mortgages, that they’ve re-introduced their Help to Buy product range. Both Help to Buy and Shared Ownership mortgage products play an important role in supporting first time buyers, to gain that all important first step onto the property ladder.
Adrian Moloney, Group Sales Director, OneSavings Bank said, “I’m delighted that Kent Reliance for Intermediaries are returning to the market with this shared ownership product range as it means we’re able to support an even wider range of customers. With our national BDM network, brokers can be assured that we can offer a strong level of support to ensure their cases get over the line.”
“Many mainstream lenders’ more rigid criteria and automated underwriting can struggle to support lending in this space. It’s vital therefore for our broker partners that they know they can turn to us for flexible criteria and propositions that match up to their client’s needs.
“Increasingly every specialist requirement can be met by a OneSavings Bank lending brand, whether it’s Kent Reliance for Intermediaries for Shared Ownership, Precise Mortgages for Help to Buy or Large HMOs for InterBay Commercial.
James Chidgey, New Homes Relationship Manager at Mortgage Advice Bureau, one of Kent Reliance for Intermediaries’ valued partners, commented: “This is a welcome return to the shared ownership sector by Kent Reliance for Intermediaries. They’ve been a big supporter of new build through shared ownership for a number of years, adding their specialist bank approach to the sector with manual underwriting expertise, and can be relied upon for their consistent and flexible decisions.”
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