Mortgages
Please see the Summary page below for important information regarding mortgage payment holidays. We are now accepting desktop valuations for house purchases / mortgages and mortgage free properties up to 75% LTV. This means, where a remote Valuation which does not require a physical inspection of the property can take place to allow mortgage applications to progress to formal mortgage offer during the lockdown period.
If you are an independent financial adviser who is looking to register with Reliance Bank and place mortgage business with ourselves, please call us on 020 7398 5421.
Mortgages
Important Information Regarding Mortgage Payment Holidays
If you are struggling with your mortgage because of COVID-19 one of the things you may want to do is to consider a mortgage payment holiday.
We are asking all affected customers to contact the mortgages department via email on mortgages@reliancebankltd.com where we would ask you to provide us with a background as to your circumstances, together with the following :
• Full name and post code
• Mortgage account number
• Best contact telephone number
We are looking to assist affected customers on an individual, case by case basis to see how we can best assist you during these challenging times.
Please do remember that a payment holiday may not be right for everyone and is subject to approval. If you do take out a payment holiday in the end we’ll recalculate your monthly payments and the amount you will owe will go up. That’s because we will add interest to your mortgage while you take a break.
Remember we are here for you. As the situation in the UK changes we’ll continue to look at what we can do to support you and will be regularly updating our website on key changes.
Gareth Byrne
Head of Mortgages
Reliance Bank LTD
We all know that buying a home can be stressful as there is so much involved ... estate agents… solicitors...surveys...mortgages...
Reliance Bank is proud that our mortgage range supports our social impact focus, particularly through our shared ownership and first time buyer offerings to enable individuals to get onto the housing ladder and call their house a home.
Reliance Bank will provide information only so that you can make a decision based on your individual needs and circumstances. We do not provide advice on mortgages so if you apply to us directly our level of service is execution-only. We do provide a personal service and help manage you through each step of your mortgage journey from application to completion. Interested?
Please select the option below that best describes your circumstances:
- Shared Ownership Mortgages
- First Time Buyer
- House Purchase
- Remortgaging and Mortgage Free
- Existing Customers (Rate Change / Further Advance)
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE
Our mortgages are subject to security and status and a first legal charge will be taken over the property.
Call us on 020 7398 5421 or alternatively email mortgages@reliancebankltd.com to find out more.
- Social Impact Mortgages
- First Time Buyer
- House Purchase
- Remortgage
- Existing Customers
Free basic mortgage valuation for properties up to £700,000.
In order to apply for the free basic mortgage valuation offer, at least one customer must be a First Time Buyer (FTB).
A first time buyer is defined as an individual or individuals who have never owned an interest in a residential property in the United Kingdom or anywhere else in the world and who intends to occupy the property as their main residence.
Reliance Bank are proud to support shared ownership mortgages for First Time Buyers. These mortgages help individuals who will normally be unable to get onto the housing ladder, buy a share of their new home with the support of the housing association.
We lend up to 90% of the share and take a first legal charge over the property.
Can I apply for a first time buyer mortgage? Please see our First Time Buyer guide in our support page.
Call us on 020 7398 5421 or alternatively email Mortgages@reliancebankltd.com to find out more.
If you are looking to move or get back onto the housing ladder, we have a number of mortgage products available. We are delighted to make these available for shared ownership properties too with as little as 10% deposit.
Please refer to the following documents in the Support page:
- Guide to buying your home
- House Purchase rates
- Basic valuation guide
- Homebuyer report guide
Call us on 020 7398 5421 or alternatively email Mortgages@reliancebankltd.com.
Remortgage and Mortgage Free
Remortgage - Move your mortgage without moving home
If you are considering switching your mortgage you may find that you could save money by remortgaging with us.
Please see our Remortgage and Mortgage Free rate table and Reliance Bank Mortgage Terms and Conditions.
Mortgage free property - Looking to raise a mortgage on your mortgage free home
If you are considering raising money on your mortgage free home you may find that you could save money by doing that with us.
Please see our Remortgage and Mortgage Free rate table and Reliance Bank Mortgage Terms and Conditions.
Call us on 020 7398 5421 or alternatively email us at Mortgages@reliancebankltd.com.
Existing Customer Further Advance
If you already have a Reliance Bank mortgage and are needing to raise some additional money to help carry out some home improvements for example we have a range of mortgage products which can suit your circumstances. For a further advance we do not require a solicitor to carry out any conveyancing as you are already a customer of ours.
We are able to lend up to 85% of the value of your home for a further advance.
As Reliance Bank does not offer mortgage advice we are unable to assist you directly if you are looking to raise money for debt consolidation. In these circumstances we would ask that you speak to an independent financial adviser who will be able assist you with this request and will be able to submit a further advance application to us on your behalf.
If one of our rates interests you, call us on 020 7398 5421 or email us at Mortgages@reliancebankltd.com.
Existing Customer Rate Change
The great news is, if you are an existing Reliance Bank mortgage customer all our mortgage products are portable.
This means that if decide to move during your current mortgage term, we can transfer the outstanding balance at your original rate to your new home. We can also review the mortgage term should you wish at the same time as your rate change. Please note,as with any new mortgage application, the bank will need to carry out an assessment of your circumstances to ascertain how much you are able to borrow as porting allows you to transfer your current mortgage rate but the amount would be subject to our standard mortgage application process.
If you are looking to borrow more on your mortgage, then you would need to refer to the house purchase product range for the corresponding rate of interest that would apply to any new money you wish to take out.
Call us on 020 7398 5421 or alternatively email Mortgages@reliancebankltd.com to find out more.
We are proud to be the bank of The Salvation Army International. Find out more about our shared history.