Buy To Let Ranges Updated By Marsden And Kent Reliance

Kent Reliance and Marsden Building Society have updated their buy to let investment mortgage ranges.

Kent Reliance, the trading name of OneSavings Bank, removed the 3-year fixed rate product and have reduced the lower limit for buy to let large loans to £750,000 from £1 million.

There has also been a reduction in minimum loan size to £50,000 for specialist buy to let, including limited companies and houses in multiple occupation (HMO) from Kent Reliance. Multiple units on a single freehold will still have a £75,000 minimum loan.

The Kent Reliance residential range has also met some changes, with the a near prime maximum loan limit increased from £500,00 to £1 million for all ranges. Loans over £500,000 will be subject to maximum LTV of 80 per cent. Interest-only asset-backed loans are now available for property values of £500,000 and a minimum loan of £50,000.

Sales director of OneSavings Bank,Adrian Moloney, said: ‘As the leading specialist lender, we’re constantly adapting and fine tuning our mortgage proposition to ensure it remains relevant and reflects the needs of our broking partners.’

At the same time, Marsden Building Society added new products across it’s expat, older borrower, retirement interest-only and residential ranges including a 5-year fixed expat buy to let product.

Term end dates have changed too.

  ‘We’ve done a full refresh of our mortgage range and reviewed where our Lending Solutions support intermediaries best. As part of this, we’ve introduced a 5-year fixed expat buy to let product, to meet a growing demand in this market.

‘As well as this, we’ve widened our lending solutions with a short-term mortgage within our standard residential range.

‘Following feedback from brokers looking for an alternative to bridging, we’ve introduced a product with a maximum of 2-year product term on interest only and has no early repayment charges which is available up to 60 per cent LTV’ – said, Steve Robinson, head of lending at the Marsden.

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Rupert Wallace

property entrepreneur developing digital & tangible real estate assets