Kent Reliance offering interest-only mortgages up to £3 million
Kent Reliance for Intermediaries is offering a range of interest-only rates for mortgages between £100,000 and £3 million.
The building society’s lowest rate is priced at 3.89% and it has a 2.19% discount from the 6.08% standard variable rate. The overall cost for comparison is 6% APR.
Borrowers will need a 25% deposit to qualify the rate doesn’t have any early repayment charges. The arrangement fee is 0.5% of the loan amount.
Aaron Strutt, product manager at Trinity Financial, says: “Lots of the lenders are still offering interest-only mortgages and at cheaper rates but they typically require a much larger deposit.
“Kent Reliance offers interest-only up to 85% loan-to-value providing the property has a minimum valuation of £500,000 and the applicant has a viable plan to repay the mortgage.”
If you would like help to secure a large interest-only mortgage, call Trinity on 020 7016 0790.
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