Kent Reliance has launched a 95% LTV ‘next time buyer’ mortgage aimed at existing mortgage holders with limited equity in their property.

This product is targeting employed and self-employed professionals who require a minimum loan size of £300,000.

Key features include:

• Maximum loan size of £1 million, up to 95% LTV
• Five-year fixed rate at 5.29%
• Available on a capital and interest repayment basis only

This product is only available via direct members of the Kent Reliance Broker Panel.

John Eastgate, sales and marketing director, said: “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% LTV.

“However, we don’t believe this is a product for everyone. Borrowers will need to have held a residential mortgage for a minimum of three years and have an income of at least £75,000.”