Kent Reliance Buy to Let no minimum income and 85%!

Kent Reliance Buy to Let no minimum income and 85%!

14:31 PM, 4th December 2013, About 10 years ago 7

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Kent Reliance Buy to Let have withdrawn their minimum income criteria of £25,000 even for 85% Loan to Value.

However this does not mean there is no criteria as a borrower would have to demonstrate a “reasonable” income and be able to prove it with payslips or 3 years accounts if self employed ie this is not non status.

It does mean that if an application stacks up on rental income and the borrower looks like they will be able to afford their ongoing commitments then Kent Reliance will consider the mortgage rather than just declining straight away as before if income was even £1 below 25,000.

To get figures and check how much you can borrow on Kent Reliance Buy to Let 85% LTV products you can use our Mortgage Calculator and quote engine.

Andrew Ferguson who is Head of Sales and Distribution for Kent Reliance, said “we have become increasingly confident in the BTL sector and having examined the way in which our book has performed, allied to the growing evidence of the strength of the rental market, we felt that insistence on a minimum income requirement was becoming less and less relevant as a measure of affordability. We shall however keep it under review.”

85% LTV Products:

  • 4.89% 2 year discounted variable rate, 2.5% Product fee and No Early Repayment Charges. Reverts to SVR currently 6.58% (ouch!)
  • 4.99% 2 year fixed, 2.5% Product fee and 4% year 1 and 3% year 2 Early repayment penalty. Reverts to SVR currently 6.58%.

The amount you can borrow on both of the above products is Stress Tested at 125% interest cover on a Notional rate of 5%. In short that means you can borrow 192 times the monthly rental income.

Lending Criteria:

  • Minimum Property value £75,000 or £250,00 for HMOs
  • No more than 20% exposure in any one block or development
  • Maximum of four properties on one Freehold
  • Studio Flats minimum of 30 square metres
  • HMOs maximum of 8 beds
  • Student properties maximum of 6 beds
  • Limited company applications accepted, but must be a Single Purpose Vehicle.
  • Flats above commercial will be considered except where above noisy, smelly or out of hours businesses.

If you require any assistance with a Buy to Let mortgage or any type of property finance just give us a call on 01603 489118 or email: if we can’t get to the phone straight away and we are always happy to help or know someone who can 🙂Kent Reliance Buy to Let

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Howard Reuben Cert CII (MP) CeRER

14:49 PM, 4th December 2013, About 10 years ago

What I like about KRBS (apart from the fact that they're the only lender supporting investors at 85%LTV!) is that they are BTL and commercial finance focused. Owned by OneSavings Bank and also a sister company to Interbay Commercial, they're certainly on the front foot and always looking forward to new and innovative product offerings.

As always, there are pros and cons, and in our experience (we have transacted several 85%LTV deals with them) is that if you're not in a hurry for an 85%LTV purchase or remortgage, then this is an excellent proposition.

And now with the £25k min income requirement removed, it's even more attractive to even more BTL'ers.

This product does have other limitations and so as always, for potential borrowers who don't want to waste their time and energies by trying to go via a 'direct' or non -advised route, I stress the importance to take the relevant advice to determine eligibility and get approved via authorised and experienced Advisers.

My profile provides my credentials 🙂 My website provides nice feedback ( )


Mandy Thomson

14:53 PM, 4th December 2013, About 10 years ago

Thanks, Neil - helpful news for landlords who rely on their portfolio for an income. Hopefully, other lenders will follow suit before too long!

Neil Patterson

14:59 PM, 4th December 2013, About 10 years ago

Reply to the comment left by "Mandy Thomson" at "04/12/2013 - 14:53":

Thank you Mandy,

There are a few other lenders who have no minimum income criteria if you are already a Landlord, but Kent Reliance obviously have the USP of 85% and are more flexible than some on property type and Stress Testing.

You just need to have an exit strategy or remortgage route after 2 years as the reversion rate is quite high. Although at least they are being upfront about it.

Bill agroh

17:42 PM, 4th December 2013, About 10 years ago

Hi Neil,

Really useful information.Do you know which credit reference agency they use. Experien or equifax.? For some reason, my experien and call credit are excellent but equifax is fair.

Sian Wyatt

18:57 PM, 4th December 2013, About 10 years ago

Have they relaxed the criteria about not owning more than ten buy to lets?

Howard Reuben Cert CII (MP) CeRER

10:50 AM, 5th December 2013, About 10 years ago

Reply to the comment left by "Edna " at "04/12/2013 - 18:57":

Hello Edna

I can confirm that there is NO upper / max limit on how many properties are held in the portfolio.

There used to be (approx 2 years ago), but now there's no limit. KR will assess each case on it's own merits and will always want to scrutinise the details of the portfolio held including values, mortgage amounts, rental incomes tec.

They are a keen lender, although of course they do need the initial Agreement In Principle 'properly' packaged at the outset for their assessment.

Hope this helps

Neil Patterson

11:01 AM, 5th December 2013, About 10 years ago

Reply to the comment left by "Bill agroh" at "04/12/2013 - 17:42":

Hi Bill,

No sorry I don't know but maybe Howard does.

However the lenders may prefer one or the other but it doesn't mean they can't switch or use both at any time unfortunately.

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