Kent Reliance has launched a 25-year fixed-rate product. The mortgage is portable, is available for first-time buyers up to 95% LTV, home movers and those wishing to remortgage.
The mortgage is also available on shared ownership lending.
Mike Lazenby, chief executive of Kent Reliance, says: “Mortgage repayments are a big part of most people’s budget and this new long term fix is great for anyone wanting to plan with certainty their mortgage payments over the next 25 years and yet have the flexibility to make over payments of up to £500 per month without penalty.
“Being fully portable and at a best buy rate we expect demand to be very high. However, for those unsure as to whether they wish to fix the whole of their loan, Kent Reliance is happy to offer the flexibility of a mix and match loan, with part fixed and part variable, linked to the Bank of England Base Rate, the best of both worlds”.