1 September 2021
Reliance Bank has made a series of amendments to its range of products for both the intermediary and direct mortgage market.
Notable changes include the introduction of an improved £850 cashback incentive for all shared ownership mortgage applications where the customer is looking to borrow £50,000 or more.
It has also reduced the headline rates across its shared ownership mortgage product range, as well as extended the end date to 30 November.
The lender has made a number of rate reductions for its key worker mortgage product range across selected higher loan-to-value (LTV) products and introduced a cashback incentive for all key worker mortgage applications where the customer is looking to borrow £150,000 or more.
As well as this, it has increased the maximum LTV for remortgage applications for key workers, from 75% to 90% LTV, and simplified its product proposition, but reduced the number of products it offers as well as simplifying its products bandings.