Jane Dotson
Kent Reliance is a specialist mortgage lender in the UK, offering flexible and bespoke mortgage solutions for borrowers with non-standard financial situations. They are known for their wide range of solutions for applicants with multiple income sources, entrepreneurs, the self-employed, high-net-worth individuals, and professionals such as doctors and nurses. Kent Reliance is an intermediary mortgage lender, which means that applicants must apply through a broker or mortgage adviser. They offer both residential and buy-to-let mortgage products, with tailored lending criteria and common-sense, manual underwriting that provides flexibility for different income types. While Kent Reliance does provide shared ownership mortgages, they offer fewer mortgage options than other lenders.
| Characteristics | Values |
|---|---|
| Type of lender | Specialist mortgage lender, intermediary mortgage lender |
| Target customers | Self-employed, contractors, landlords, first-time buyers, entrepreneurs, high-net-worth individuals, professionals like doctors and nurses |
| Mortgage types | Buy-to-let, residential, shared ownership |
| Age limit | Maximum age at the end of the mortgage term is 85 |
| Regulating authority | OneSavings Bank plc, authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority (registered number 530504) |
| Application process | Accepts mortgage applications from mortgage advisers or brokers only |
Explore related products
What You'll Learn
Kent Reliance is an intermediary mortgage lender
Kent Reliance is a specialist intermediary mortgage lender with a history spanning over 150 years. They offer a range of buy-to-let and residential mortgage solutions, catering to diverse customer profiles, including first-time buyers, landlords, high-net-worth individuals, self-employed applicants, and young professionals.
As an intermediary lender, Kent Reliance accepts mortgage applications only from mortgage advisers or brokers. They are known for their flexibility and ability to provide tailored solutions for cases that may not meet the criteria of mainstream lenders. This includes scenarios where applicants have multiple income sources, are entrepreneurs, or are looking for shared ownership mortgages.
The lender is part of the OSB Group PLC and has a dedicated website for intermediaries, providing comprehensive information on their mortgage products. Kent Reliance also offers support for current mortgage customers, including assistance for those facing challenges in making payments.
While Kent Reliance does not provide mortgage insurance, they do offer various financial services, such as funeral plans and life insurance policies, which can help cover expenses in the event of a customer's death. Additionally, they provide guidance for surviving spouses or civil partners regarding ISA accounts and potential eligibility for the Additional Permitted Subscription (APS) ISA scheme.
Kent Reliance has received recognition for its financial products, winning awards like the Best Fixed Term Savings Account Provider at the YourMoney.com Awards and Moneynet Awards in 2023.
Insurance Suspicion: Reports of Suspicious Persons and Their Impact
You may want to see also
Explore related products
$12 $24.99
They offer residential mortgages
Kent Reliance is a specialist mortgage lender in the UK, offering flexible and bespoke mortgage products for borrowers with non-standard financial situations. They have a track record of helping people buy homes and investment properties for over 150 years.
Kent Reliance's residential mortgages are regulated by the Financial Conduct Authority and the Prudential Regulation Authority. The maximum age at the end of the mortgage term is 85, and the interest rate will revert to the Bank of England Base Rate (BBR) tracker at the end of any initial deal.
Their residential mortgage products are ideal for clients who may not fit the rigid criteria of mainstream lenders, including contractors and landlords with diverse property portfolios. Kent Reliance offers flexible lending criteria, such as mortgages for self-employed borrowers with only one year of accounts and Houses in Multiple Occupation (HMOs).
Trampoline Hazards: Insurance and Safety Concerns
You may want to see also
Explore related products
Kent Reliance provides buy-to-let mortgages
However, it is important to note that Kent Reliance is an intermediary mortgage lender, meaning that applications must be made through a broker or qualified financial adviser. They do not have in-house mortgage advisers and are not authorised to provide direct advice on their mortgages. They can only provide help with basic information and general queries.
The Mortgage Choices Online web portal is available to help customers choose a new mortgage deal and track its progress. This portal can be accessed by logging in with a mortgage account number and details.
Kent Reliance offers solutions for applicants with multiple income sources, entrepreneurs, the self-employed, high-net-worth individuals, and professionals such as doctors and nurses. They have won awards for their financial services, including Best Fixed-Term Savings Account Provider at the YourMoney.com Awards and Moneynet Awards in 2023.
While they offer a range of mortgage options, Kent Reliance provides fewer choices compared to other lenders. When considering a mortgage with Kent Reliance, it is essential to assess your unique circumstances, affordability, eligibility for mortgage products, and the current market conditions.
Pet Insurance for Indoor Cats: Is It Worth the Cost?
You may want to see also
Explore related products
They offer shared ownership mortgages
Kent Reliance is an intermediary mortgage lender, which means that you must go through a broker to apply for their products. They have a long history of helping people buy homes and investment properties, and they offer a wide range of solutions for applicants, including shared ownership mortgages.
A shared ownership mortgage is a government-backed scheme that allows you to buy a share of a home, typically between 10% and 75%. This type of mortgage can make homeownership more affordable, as you only need to take out a mortgage for the share you are buying, which keeps deposit requirements and monthly repayments down. You will, however, need to pay rent on the portion of the property that you do not own.
The size of the shared ownership mortgage you need will depend on the share you are buying relative to the market value of the property and the size of your deposit. The minimum deposit required is usually between 5% and 10% of the value of the share you are purchasing. For example, if you want to buy a 25% share in a £200,000 home, you will need to raise £50,000 to secure your stake in the property. With a 10% deposit, you would put down £5,000 and need a shared ownership mortgage for the remaining £45,000.
Shared ownership mortgages are sometimes called part-buy, part-rent mortgages because they create a middle ground between renting and buying a home. This type of mortgage can be beneficial for those who cannot afford to purchase a home outright, including first-time buyers and low-income individuals. It is important to note that shared ownership mortgages are not offered by all banks and building societies, so it is essential to check with a lender if they offer mortgages under the scheme.
Reporting Future Loss of Insurance for Obamacare
You may want to see also
Explore related products
Kent Reliance lends to those with non-standard financial situations
Kent Reliance's tailored products are designed to cater to a wide range of borrowers. For instance, they offer flexible lending criteria, providing mortgages for self-employed borrowers with only one year of accounts, HMOs (Houses in Multiple Occupation), and limited company landlords. They also offer shared ownership mortgages, which can make homeownership more affordable.
The company has a long history of helping people buy homes and investment properties, and they are known for their range of solutions for applicants with multiple income sources, entrepreneurs, high-net-worth individuals, and professionals like doctors and nurses.
To apply for a Kent Reliance mortgage, you must go through a broker or mortgage adviser, who will evaluate your income, outgoings, credit history, and other financial commitments. They will also assess property-related details and whether you are buying or refinancing to ensure you understand the best mortgage options for your unique circumstances.
While Kent Reliance caters to those with non-standard financial situations, it is important to note that they offer fewer mortgage options than other lenders, and the suitability of their products depends on individual affordability and circumstances, eligibility, and market conditions.
Surge Insurance: Is It a Worthy Investment?
You may want to see also
Frequently asked questions
No, Kent Rilience does not provide mortgage insurance. However, they are a specialist mortgage lender in the UK, offering flexible and bespoke mortgage products.
Kent Rilience offers a range of buy-to-let and residential mortgage products for clients that may not fit the criteria of mainstream lenders. They also offer shared ownership mortgages.
Kent Rilience's mortgage products are suitable for those with non-standard financial situations, including self-employed individuals, contractors, landlords, and first-time buyers. They also cater to individuals with complex incomes and multiple income sources.
Kent Reliance accepts mortgage applications from mortgage advisers and brokers only. You can find a list of mortgage advisers in your local area at unbiased.co.uk.
