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Kent Reliance launches 95% LTV loan for second steppers

Kent Reliance has launched a 95 per cent loan-to-value mortgage aimed at second steppers, which it is calling the next time buyer mortgage.

The loan is a five-year fixed rate at 5.29 per cent and is available to employed and self-employed professionals who require a loan between £300,000 and £1m.

To qualify for the product, borrowers will have to have held a residential mortgage for a minimum of three years and have an income of at least £75,000.

It is only available to members of the Kent Reliance broker panel.

Sales and director John Eastgate says: “We believe in meeting market demands; there are a number of professional people living in properties that they have perhaps outgrown or just want to move on from but can’t because they don’t have a big enough deposit for their next home. Our new product will meet this need by offering up to 95 per cent LTV.”

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  • paul jones 26th March 2013 at 12:02 pm

    what a load of cr@p. might as well give me a 100% mortgage but to qualify, you must be the pope. both would / will fail.

  • thinkaboutit 22nd March 2013 at 3:21 pm

    Lets do the maths. A 5% deposit on a £300k loan is £15k. Are kent really saying that someone earning ‘at least’ £75k cant save more than a £15k deposit?