Influenced by tax rate changes, the ever-expanding landlord market, and rate cuts, Kent Reliance is offering various loan products to its customers. Some of the rates are at their lowest and apply to the two and three-year loan categories. Examples of rates include: a discount loan at 2.99% (from 3.34%), a two-year fixed at 3.19% (from 3.79%) and three-year fixed at 3.39%. LTV's range from 65-85%. Fees remain the same from 1.5-2.5%.
These rates appeal to brokers who want more to offer their clients. The rates are offered so low as what are called "buy-to-let" rates that attract the more complicated markets such as multi-level housing and limited companies, where owners need to satisfy costs and navigate sales. The lender cuts represent historic level rates in the loan industry.
Key Takeaways:
- Due to cuts, Key Reliance is now offering its historically lowest ever rate for buy to let properties.
- The loan criteria is specific, both as to time periods and types of companies and homes covered.
- The changes are said to reflect changes in taxing and regulation and also response to brokerage feedback.
Key Quote:
"These rate reductions are in direct response to the feedback received from our brokers who are actively seeking products for the increasingly evolving landlord market."
Read the full article:
https://www.mortgagestrategy.co.uk/kent-reliance-cuts-buy-let-rates-include-record-2-99-loan/
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