Kent Reliance reintroduces shared ownership proposition

Jessica Bird

June 16, 2020

Kent Reliance shared ownership

Kent Reliance for Intermediaries, part of specialist lending and retail savings group OneSavings Bank, has re-introduced its shared ownership residential product range.

The range is available on purchase or remortgage applications, up to a maximum of 75% loan-to-value (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 will not require a large deposit in order to purchase a property.

The shared ownership product range will also be reverting to the Bank of England base rate tracker of 4.50%.

This follows the recent announcement from sister brand, Precise Mortgages, that it has reintroduced its Help to Buy product range.

Adrian Moloney, group sales director at OneSavings Bank, said: “I’m delighted that Kent Reliance for Intermediaries [is] 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 [business development manager] 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, added: “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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