Reliance Bank Ltd is excited to announce the launch of its new Mortgage product range to both the Intermediary market and direct to customers.
The key highlights are as follows:
- Key Worker Mortgage applicants receive £400 Cashback within 60 days of the date of mortgage completion with Reliance Bank Ltd. Cashback does not apply to cases where the borrowing amount is less than the £125,000 qualifying loan amount
- Shared Ownership Mortgage applicants receive £850 Cashback within 60 days of the date of mortgage completion with Reliance Bank Ltd. The minimum loan amount remains at £75,000
- All end dates have been extended to 30th November (30/11/2024 for all 2yr fixed rate products and 30/11/2027 for all 5yr fixed rate products)
- Key Worker Mortgage products for up to 90% LTV can be used for both Purchase and Remortgage Applications
- Key Worker Mortgages – please see the updated occupation list
- They do not offer free valuations or free legal – clients need to pay for these
- Minimum loan amounts for their products have remained unchanged
- IMPORTANT – If a product fee is being added to the loan amount you cannot exceed the LTV for the product
- Principle Loan amounts have to be in multiples of £50
- All products are portable
- Early Repayment Charge treatment remains unchanged – please refer to rate sheets