Time runs out on Kent Reliance’s 85% B2L product

Kent Reliance Building Society is withdrawing its 85% LTV buy-to-let deal on May 11, one of the last widely available in the market.

All applications in principle for the two-year fix with a 1% fee must be sent in before 5pm this Friday May 11, with the application fully submitted by May 18.

Alastair Pate, head of marketing at Kent Reliance, says it had a limited tranche of funding which has now been filled.

He says: “We’d love to do more but need to ensure we have the funding.”

David Whittaker, managing director of Mortgages for Business, does not believe the move is significant for the buy-to-let market.

He says: “It was a good product but it came and went like many others and someone will probably come along with a similar deal.”