This product is targeting employed and self-employed professionals who require a minimum loan size of £300,000.
Commenting, John Eastgate, sales and marketing director, said: “We believe in meeting market demand.
“There are a number of professional people living in properties that they have perhaps outgrown or just want to move on from but can’t because they don’t have a big enough deposit for their next home. Our new product will meet this need by offering up to 95% LTV.
“However, we don’t believe this is a product for everyone. Borrowers will need to have held a residential mortgage for a minimum of three years and have an income of at least £75,000.”
Key features of the 95% LTV Next Time Buyer Mortgage product include:
• Maximum loan size of £1 million up to 95% LTV
• 5 year fixed rate at 5.29%
• Available on a capital and interest repayment basis only
The product is only available via direct members of the Kent Reliance Broker Panel.
