Reliance Bank launches key worker products

Jake Carter

June 17, 2021

launch products

Reliance Bank has launched a range of mortgage products to the intermediary and direct mortgage market for key workers.

The range has been designed to reflect the recent changes in the mortgage market, according to the bank.

Notable products include a 90% loan-to-value (LTV) 2-year fix at 2.60% with a £995 fee.

It has also introduced £250 cashback for shared ownership applications where the customer is looking to borrow £50,000 or more.

Gareth Byrne, head of mortgages for Reliance Bank, said: “This latest range of mortgage products that Reliance Bank are offering via our intermediary and direct channels are designed to help mortgage customers.

“Either by looking to help those key workers who have low deposits being able to get onto the housing ladder, as we continue to see the cost of housing increase.

“Or, for those customers who are looking to buy their home under the shared ownership scheme with a housing association where we are now able to offer a cash back to help towards costs.

“We have also maintained our current remortgage incentives too for customers who are looking to remortgage to ourselves from their current provider.

“I am really proud that the bank remains committed to helping key workers as well as those who are looking to get onto the housing ladder through the shared ownership scheme.

“We are looking to help more people onto the housing ladder as well as increase the number of people who are looking to remortgage over to Reliance Bank, which is evident in the number of changes we have made to our mortgage product proposition.”

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