Reliance Bank has brought out a new five-year fixed mortgage for purchase and remortgage.
Available at up to 75% LTV and requiring a minimum loan amount of £125,000, with a £995 fee the product costs 2.45% for both residential and remortgage use and, with zero fee, 2.84%.
As well as this, the lender has brought in a minimum £125,000 loan for its key worker mortgages and lifted the minimum loan amount for its shared ownership range to £75,000.
It will also retain its cashback benefits for both shared ownership and key worker mortgages at £850 each for, those borrowing, respectively, at least £75,000 and £125,000.
Reliance Bank head of mortgages Gareth Byrne says: “Our Residential Mortgage range is designed to have a positive social impact, that’s why I am delighted that we continue to provide cash back incentives for both shared ownership mortgage completions and key worker mortgage completions.”