Mortgages
We provide a wide range of mortgages including those with a positive social impact focus, including Shared Ownership and specialist mortgages for individuals with long term disabilities.
Mortgages
Your guide to help you make the right move, whether you are buying your first home, moving home or just wanting to move your mortgage, we will help make the process simple. We all know that buying a home can be stressful and there is so much involved... estate agents… solicitors...surveys...mortgages... and so much more.
Our Mortgage product range is based on our level of service which is execution-only. Reliance Bank will provide information only so that you can make a decision based on your individual circumstances and needs. Reliance Bank do not provide advice on mortgages. From the options below, select the link that best describes your circumstances:
- Mortgage and supporting you - Rates and factsheet
- House Purchase - Rates and factsheet
- Remortgaging and Mortgage Free - Rates and factsheet
- Further Advances - Rates and factsheet
- First Time Buyer - Rates and factsheet
- Rate Change - Rates and factsheet
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE
Our mortgages are subject to security and status. A first legal charge will be taken over the property and we may also require to hold life policy documents.
Additional features of all Reliance Bank's mortgages
For existing customers your rate may be on either the Standard Variable Rate or the Home Mortgage Variable Rate. Please refer to your individual Loan Agreement.
The Fixed Rate Mortgages shown in our rate tables run to a specific end date for example a 2 year fixed rate does not necessarily last 24 months.
Personal service and management throughout. From the start for your application to completion. Interested?
Call us on 020 7398 5400 or alternatively print the documents listed below and forward your completed application with supporting documentation to our office.
- First Time Buyer
- Remortgage
- House Purchase
- Further Advance
- Rate Change
How much will we lend?
The amount we are prepared to lend will depend on your individual circumstances - we will look at your income and the value of the property you want to buy. Please read our Mortgage Rate Table for a guide on our execution-only mortgage product range.
Mortgage Promise
If we give you a Mortgage Offer or an Agreement in Principle, it will be subject to:
- A satisfactory valuation or assessment of the suitability of the property to be mortgaged
- The information you have supplied us being correct
- Confirmation of your decision to proceed on an execution-only basis
- Which mortgage is right for you?
Execution-Only
Reliance Bank’s Mortgage Rate Table is based on our level of service which is execution-only. Reliance Bank do not provide advice on mortgages.
- Interest is calculated daily
- Interest is charged in arrears
- You don’t have to bank with Reliance Bank to apply
APRCs
The APRC (Annual Percentage Rate of Charge) is the total cost of the credit to the consumer, expressed as an annual percentage.
The APRC (previously known as APR until recent regulatory changes) is the official cost for comparison. It's calculated using the average cost per year, including fees associated with the mortgage. However, it assumes you keep the mortgage for the entire term rather than just the initial deal period.
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.
If one of our rates interests you, call us on 020 7398 5400 or alternatively print the documents listed in the Support page and forward your completed application form with the supporting documentation named in the What you need to open an account document to the following address:
Reliance Bank Limited, Faith House, 23-24 Lovat Lane, London EC3R 8EB
See our First Time Buyer rate table in the Support page.
Offer
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.
Can I apply for a first time buyer mortgage?
As long as one person applying has never owned a property before, you can apply for a first time buyer mortgage with Reliance Bank.
• You must be buying a UK property
• You must be a UK resident or have rights to reside in the UK
• You must be at least 18 years old to apply for a mortgage, and your mortgage must usually end before you reach 75 years of age.
If your mortgage term extends past your UK State Pension age or your expected retirement age – whichever happens sooner - we'll need to look at your retirement income or your employment income, if you are still working, the bank will need to work out whether it thinks you can afford the monthly payments
• If you’re taking out a joint mortgage, it’s the age of the oldest person that’s taken into account.
When you complete the application - shown in the Support page, please provide evidence of the above so that we can provide this offer to you.
Shared Ownership Purchases
We are accepting mortgage applications for shared ownership purchases, subject to Reliance Bank Limited having a First Legal Charge over the property.
If one of our rates interests you, call us on 020 7398 5400 or alternatively print the documents listed in the Support page and forward your completed application form with the supporting documentation named in the What you need to open an account document shown in the Support page, to the following address:
Reliance Bank Limited, Faith House, 23-24 Lovat Lane, London EC3R 8EB
House purchase including Shared Ownership Purchases
If you are looking to buy your new home we have a number of mortgage products available.
See our House Purchase rate table in the Support page.
Shared Ownership Purchases
We are accepting mortgage applications for shared ownership purchases, subject to Reliance Bank Limited having a First Legal Charge over the property.
See our House purchase rate table in the Support page.
If one of our rates interests you, call us on 020 7398 5400 or alternatively print the documents listed in the Support page and forward your completed application form with the supporting documentation named in the What you need to open an account document shown in the Support page, to the following address:
Reliance Bank Limited, Faith House, 23-24 Lovat Lane, London EC3R 8EB
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 a 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 5400 or alternatively print the documents listed in the Support page and forward your completed application with supporting documentation shown in the What you need to open an account document shown in the Support page, to the following address:
Reliance Bank Limited, Faith House, 23-24 Lovat Lane, London EC3R 8EB
Summary
Shared Ownership
Reliance Bank are proud to support Shared Ownership mortgages. These mortgages help people who would normally be unable to get on the housing ladder, to buy a share of their new home through Reliance Bank with the support of a housing association.
Shared Ownership Case Study
Hannah and Joseph were recently able to buy their first home in North London on a Shared Ownership mortgage provided by Reliance Bank, with the support of a local housing association.
Hannah says "We could not live where we are in North London without the Shared Ownership mortgage that Reliance Bank provided. We are so thankful to Reliance Bank and the housing association for enabling our family to have a home as we continue in work and ministry”
This is just one example of how Reliance Bank are looking to help people own their own home.
Mortgages for people with long term disabilities
Reliance Bank is able to support those individuals who have long term disabilities to buy a place they can call "home".
The impact is substantial, not just for the individual who has the disability, but for the individual's wider support network and family.
These mortgages demonstrate Reliance Bank's commitment to providing a positive social impact to those individuals who may have been unable to own their home.
We are proud to be the bank of The Salvation Army International. Find out more about our shared history.