Reliance Bank Ltd
Faith House
23-24 Lovat Lane
London EC3R 8EB
Tel: +44 785 6119492

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2 year Tracker Rate Mortgages -

 

'with effect from 10 April  2017'

A mortgage product where the rate is linked to the Reliance Bank base rate, and therefore if this increases or decreases your monthly repayments would automatically change.

Flexibility with having a lower interest rate, but you need to budget if rate increased.

For the first two years of your mortgage we offer the following choices:
Currently 2.15% - Maximum Tracker rate capped at 2.75%
 
1.75% above Reliance Bank Base rate, (0.40%), then changing to our Home Mortgage Rate for the rest of the mortgage term, currently 3.75%. Overall cost for comparison 3.5% APRC  (based on a £100,000 mortgage over 25 years) .
Borrowing considered up to 90% Loan to Value and no arrangement fee. 
 
Currently1.79% - Maximum Tracker rate capped at 2.39%
 
1.39% above Reliance Bank Base rate, (0.40%), then changing to our Home Mortgage Rate for the rest of the mortgage term, currently 3.75%.  Overall cost for comparison 3.5% APRC.(based on a £100,000 mortgage over 25 years).
Borrowing considered up to 90% Loan to Value, plus an arrangement fee of £799.
 
1.65% - Maximum Tracker rate capped at 2.25%
1.25% above Reliance Bank Base rate, (0.40%), then changing to our Home Mortgage Rate for the rest of the mortgage term, currently 3.75%.  Overall cost for comparison 3.5% APRC  (based on a £100,000 mortgage over 25 years).    
Borrowing considered up to 80% Loan to Value, plus an arrangement fee of £999  

Features & Benefits

  • Free standard mortgage valuation up to £250 (this is only available to new customers)

  • In the event of the mortgage being repaid in full in the first year, a 2% penalty of the amount repaid is payable and then a 1% repayment charge for the remainder of the Tracker rate.

  • Each year you have the option of making an overpayment up to 10% of the outstanding balance (min £1,000). An administration fee of £25 will be charged per partial payment.

  • For lending up to £250,000 the maximum loan is 85% of the value of the property, minimum deposit 15%.  For lending between £250,000 and £500,000 the minimum deposit is 20%

Additional features of all Reliance Bank Mortgages

  • Interest is calculated daily
  • Don’t have to bank with Reliance Bank to apply
  • Personal service and management through to completion
 
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Reliance Bank Limited. All rights reserved.
YOUR HOME MAY BE AT RISK IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.
Reliance Bank Limited, Faith House, 23-24 Lovat Lane, London EC3R 8EB. Telephone: 020 7398 5400 Fax:  020 7398 5401
Reliance Bank Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Registered in England. Registration no. 68835.
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