Kent Reliance Mortgage Advisor

Who is Kent Reliance?

Kent Reliance is a 150-year-old savings specialist, formerly known as Kent Reliance Building Society (KRBS); the Kent-based business was established in 1986 to provide a range of banking services and incorporates several historic Kent businesses, including Kent and Canterbury (established 1847), Dover District (established 1861), Herne Bay (established 1888) and Chatham Reliance (established 1898).

In 2011, KRBS transferred its business to a new bank, One Savings Bank plc, which now trades as Kent Reliance.

OneSavings Bank plc, which acquired Charter Court Financial Services in 2019, offers a range of Buy to Let and residential mortgage products through these trading brands Kent Reliance for Intermediaries, Precise Mortgages, and InterBay Commercial.

The services offered by Kent Reliance include savings accounts, ISAs, bonds, mortgages, and business savings.

The mortgages are available through mortgage advisors only, including buy to let mortgages, limited company mortgages, residential mortgages, and shared ownership mortgages. They offer a range of solutions to meet the needs of these clients, providing an alternative to established mainstream providers.

What does Kent Reliance specialise in?

Kent Reliance focuses on specialist residential mortgages and buy to let mortgage cases that other lenders might shy away from.

Kent Reliance buy to let mortgages

As Kent Reliance specialises in challenging mortgage cases, they aim to help the following with their buy-to-let mortgages:

• Large portfolio landlords who have a large number of properties.
• Houses of multiple occupancies — loans on properties with several tenants
• High-value properties — buy to let cases on especially high-value properties
• Limited company lending — for clients with an SPV on their property or portfolio
• Multiple units on one freehold — for clients who have converted the property into four or fewer units without separating the title
• Ex-Pat loans
• Older applicants

Kent Reliance residential mortgages

Kent Reliance offers a flexible approach to underwriting as every case is manually underwritten, and all complex and unique circumstances are reviewed on their own merits.

They offer larger loans that are individually assessed and can consider cases such as:

Are Kent Reliance rates competitive?

Kent Reliance could be considered if you’re looking for a mortgage and don’t fit the criteria of the high street banks.

Kent Reliance offers a range of products for those who do not fit the mould of the high street banks. Therefore their pricing is generally higher.

However, as with any mortgage, it’s important to compare interest rates, fees and the quality of the lender’s current service before making a decision.

Your credit score can also impact the interest rate you’re offered.

The lender also charges some fees (e.g. application and origination fees).

Be sure to review the loan’s terms and conditions carefully before deciding.

Kent Reliance only offers its products via mortgage intermediaries. Therefore, if you are considering a mortgage with them, speak to a mortgage advisor who can help you compare your options.

Can I remortgage with Kent Reliance?

You will need to speak to Kent Reliance if you are already a customer, as they may be able to offer a product transfer. As Kent Reliance offers mortgages to underserved customers whom mainstream lenders and their rates have let down, their rates are generally higher. You should investigate if you can remortgage to a more competitive rate. An independent mortgage advisor can advise you on all products available in the market and find the best option for you, which may not be staying with your current lender.

How long does it take to get a Kent Reliance mortgage offer?

Kent Reliance’s average time from application to offer is around four weeks. However, this duration may extend for more complicated deals, for example, bad credit, a non-standard property type, or complex self-employed income.

What to do if Kent Reliance declines you?

If you have been declined a mortgage from Kent Reliance via another broker, an independent mortgage advisor may be able to help you find a lender willing to give you a mortgage.

Independent mortgage advisors can help you with your financing options, even if you do not have perfect credit. If you want more details about your credit history, you can go to Check My File to sign up for a free trial.

Conclusion

Kent Reliance is a 150-year-old savings specialist formerly known as the Kent Reliance Building Society (KRBS).

In 2011, the KRBS transferred its business to a new bank called One Savings Bank plc, which now trades as Kent Reliance.

OneSavings Bank plc acquired Charter Court Financial Services in 2019 and offers a range of Buy to Let and residential mortgage products via mortgage advisors:

The mortgages available through mortgage advisors only include buy to let mortgages, limited company mortgages, residential mortgages, and shared ownership mortgages.

Kent Reliance offers a flexible approach to underwriting as every case is manually underwritten, and all complex and unique circumstances are reviewed on their own merits. Therefore, their pricing is generally higher.

You will need to speak to Kent Reliance if you are already a customer, as they may be able to offer a product transfer. However, their rates are generally higher, so you should investigate if you can remortgage to a more competitive rate with an alternative lender.

If you’ve been declined a Kent reliance mortgage, an independent mortgage advisor could still help you.

Please complete the contact form below if you want to speak to a mortgage advisor. I NEED ADVICE will match you with a mortgage advisor who can review the whole market and recommend the right mortgage.

Please note, although the information on this page is correct at the time of writing, lenders change their policy on a regular basis so please use it as a guide only.

Originally published at https://ineedadvice.co.uk on September 1, 2022.