Kent Reliance for Intermediaries, part of the specialist lending and retail savings group OneSavings Bank, has launched a large loan residential property range.
The product range is available on loans between £1m and £3m, up to a maximum of 75% loan-to-value (LTV) on 2 and 5-year terms.
Rates are from 3.69%, with revert rates tracking the Bank of England’s base rate.
Kent Reliance for Intermediaries remains one of the only specialist lenders in the market to offer loans for up to £3m at 75% LTV.
This range will particularly appeal to clients looking for the following factors: interest-only available; purchase of first or second residential home subject to income; purchase and let-to-buy applications considered; up to four applicants; expertise of a specialist lender.
Adrian Moloney, group sales director at OneSavings Bank, said: “The launch of our large loan residential range shows our commitment to the market by providing our intermediary partners with increased lending options for their customers.
“During these difficult times, it’s important to appreciate and understand the diversity of lending applications such as those with non-standard income streams and strive to offer a common-sense approach.
“Every department within Kent Reliance for Intermediaries, from sales to underwriting, from completions to our in-house valuation team have the expertise and knowledge to deal with cases of all shapes and sizes.
“These cases, which are quite often turned away by mainstream lenders, give us the opportunity to showcase what we do best which is to offer a flexible approach to lending through our specialist manual underwriting coupled with a strong understanding of the market.
“This allows us to properly consider each case on its own merits, match our products to the broker’s requirements and work with them to get their cases over the line.”
Andrew Montlake, managing director at Coreco, added: “This residential large loan range from Kent Reliance for Intermediaries is great news for the market.
“Kent Reliance are specialists in their field with an in depth understanding of complex scenarios and individuals’ circumstances.
“They can always be relied upon for their flexible decisions and common sense approach to lending.”