Kent Reliance Buy to Let Mortgages
Our Kent Reliance Buy To Let mortgage Service
Fair Mortgages can provide you with a first class buy to let mortgage service.
Special features of what we offer include:
- Whole of market service - We work with Kent Reliance along with most other UK lenders
- Rates - Access to leading buy to let market rates
- Exclusives - Access to exclusive buy to let mortgage deals not available on the high street
- Our buy to let expertise - Expert help whether you are a first time investor or experienced full time landlord
- Credit issues? - We have lenders who will take into account previous defaults and missed payments
- Experienced buy to let investor? - Have a complex buy to let or have a portfolio of 5+ properties? - speak to us
Changes to the Buy to Let Mortgage Market
Kent Reliance provide a variety of buy to let mortgage products but before applying to them for the finance you need, it is important to review the changes to the buy to let mortgage market regulations.
Lenders will apply a stricter income stress test than before. Any landlord that applies for a buy to let mortgage with a lender, including Kent Reliance, needs to show that they can afford mortgage payments in the event that interest rates increase to 5.5%. This is to minimise the risk of landlords falling into arrears on their mortgage payments in the future.
In addition to the stress test, lenders will require landlords to have a rental yield of at least 145% for a standard buy to let or 170% for houses in multiple occupation. It should be stressed that landlords cannot merely state how much rent they intend to charge in their application, lenders will only accept projected rental yield estimates that are based on a professional surveyor’s valuation.
Unlike in previous years, landlords can no longer spread equity across their portfolio to cover up one of their failing buy to let properties. This means that lenders will review a landlord’s entire property portfolio to ensure every property is profitable before approving a mortgage. Therefore, if a landlord has one or more properties that are not profitable, they should not expect to receive a buy to let mortgage.
Kent Reliance Buy to Let Mortgages
If you wish to invest in property on a buy to let basis, you may be wondering what Kent Reliance buy to let mortgages might be available to you. Kent Reliance offer a range of plans with both fixed and offset options available.
Before Kent Reliance offer you a buy to let mortgage, it is not uncommon for them to ask that:
- Applicant is at a maximum age of 85 at the end of the mortgage term
- Applicant can borrow up to 85% LTV (dependant on experience)
- Applicant can borrow up to £3m
- There are a maximum number of four borrowers to one loan.
About Kent Reliance Building Society
The Kent Reliance Building Society was formed in 1986, incorporating Chatham Reliance Building Society, Dover District Building Society, Herne Bay Building Society, along with Kent and Canterbury Building Society. In 2011, Kent Reliance Building Society became part of One Savings Bank plc, but retains its original brand and continues to offer a wide selection of mortgage and buy to let mortgage deals.
Kent Reliance only offers its buy to let mortgage deals through independent intermediaries such as ourselves, but you can still compare Kent Reliance deals with a wide range of alternative buy to let mortgage deals using our FREE comparison service.
Features of Kent Reliance Buy to Let Mortgages
Kent Reliance offer a range of different buy to let mortgage packages, each tailored to the different needs of property investors. As a Kent Reliance buy to let mortgage customer, you will be able to select from:
- Standard buy to let mortgages – For private and professional landlords financing standard flats or houses.
- Specialist buy to let mortgages – For landlords financing houses of multiple occupancy/student lets or for limited companies.
- Expat buy to let mortgages – Designed to help clients working overseas to purchase a buy to let property in the UK.
- Large loan standard buy to let mortgages – Specific buy to let products for larger loans starting from £1m to £3m.
- Large loan specialist buy to let mortgages – Designed for landlords financing houses of multiple occupancy, student lets or for limited companies between £1m and £3m.
To find out more about any of Kent Reliance’s products, or to gain any advice with your buy to let mortgage application, call us on 0117 403 4474. Alternatively, fill in our contact form to request a call back from one of our buy to let mortgage advisers.