Reliance Bank has launched a range of new mortgage products to the intermediary and direct mortgage channels following feedback from intermediary partners.
The new range has been designed to reflect the recent changes in the mortgage market. The bank is continuing to show support for key workers, through its dedicated Keyworker product range, where the lender has made a number of interest rate reductions for those Keyworkers who have smaller deposits.
The bank is also providing further support to those customers who are looking to own their home through its shared ownership product range by introducing a £250 cashback, which will be paid to the customer within 60 days of them completing on their mortgage with the bank.
Key workers continues to offer the free basic mortgage valuation incentive for remortgages with properties valued up to £750,000, as well as a £500 cashback for these applications (staircasing plus shared ownership remortgage cases are excluded from the remortgage incentive).
Gareth Byrne, head of mortgages for Reliance Bank, said: “This latest range of mortgage products that Reliance Bank are offering via our intermediary and direct channels are designed to help mortgage customers.
“Either by looking to help those keyworkers who have low deposits being able to get onto the housing ladder, as we continue to see the cost of housing increase. Or, for those customers who are looking to buy their home under the shared ownership scheme with a housing association where we are now able to offer a cash back to help towards costs. We have also maintained our current remortgage incentives too for customers who are looking to remortgage to ourselves from their current provider.
“I am really proud that the bank remains committed to helping key workers as well as those who are looking to get onto the housing ladder through the shared ownership scheme. We are looking to help more people onto the housing ladder as well as increase the number of people who are looking to rRemortgage over to Reliance Bank, which is evident in the number of changes we have made to our mortgage product proposition.”