Kent Reliance for Intermediaries, part of the OSB Group, has unveiled updates to its residential, buy-to-let, and shared ownership product ranges.
Key changes include the reintroduction of Income Flexibility and Extra Flexibility residential ranges, along with a 50 basis point reduction on selected buy-to-let fixed rates.
For the residential sector, the Income Flexibility Range caters to those needing leeway around income multipliers, available up to 95% loan-to-value (LTV) for loans up to £1.5m.
The Extra Flexibility Range assists customers requiring leniency due to their credit profiles, available up to 85% LTV. Furthermore, core residential fixed rates have seen reductions on 85% and 90% LTV products.
Changes to the shared ownership range include the removal of all product fees and rate reductions on 95% and 100% mortgage security valuation (MSV) fixed rates.
For buy-to-let borrowers, there’s a notable reduction of 50 basis points on 80% LTV fixed rates, with the full range starting from 4.59%. These rates apply to various property types, including houses in multiple occupation (HMOs) with up to 20 lettable rooms.
Adrian Moloney, group intermediary director, OSB Group, said: “With the current economic backdrop, we were keen to provide some positive product options for brokers as we understand the challenges they are facing across the board.
“At the end of the day, there are always clients wanting to transact, whether it’s for the next step towards a family home or an investment property so it’s important as a lender that we listen and adapt accordingly. For example, our income flexibility products were designed to help newly qualified professionals, looking to purchase their first home but needing flexibility around income multipliers.”
Wayne Gray, managing director, DMI Finance, added: “Kent Reliance for Intermediaries are a key lending partner and these products and reduced rates will certainly be welcome news, especially for our residential clients who need just a little more flexibility in order to secure their dream property.
“Alongside this positive news, we really value the support of KRFI’s award winning BDM team, as they take the time to talk through case complexities which can make a real difference towards securing a positive outcome.”
