Kent Reliance has extended the availability of its 95% LTV mortgage product range to borrowers seeking to re-mortgage their property having initially purchased it via a new build shared equity scheme through a participating house builder.
The lender provides a range of 95% LTV mortgages through the MIBS Mortgage Indemnity Guarantee Scheme, facilitated by M.I. Business Solutions Limited.
Rates include a range of two and three-year fixed and discount mortgages starting from 4.75% and will be available through selected Intermediary Partners of both M.I Business Solutions Limited and Kent Reliance.
John Eastgate, sales and marketing director at OneSavings Bank plc, said: “We are delighted to announce that from today, Kent Reliance will be extending its MIBS scheme to include remortgage options for borrowers who purchased their home via a new build shared equity scheme.”
Tony Ibson, director at MIBS, added: “This is a great addition to our product range and will help borrowers to remortgage up to 95% LTV to repay their Shared Equity debt. As more borrowers begin to plan the repayment of their equity loans we are delighted to be partnering with Kent Reliance in an area of the market where there are currently very few choices for borrowers.”