The lender is also extending its mortgage offer validity period from three to six months.
Kent Reliance has reduced its minimum loan size from £70,000 to £50,000 up to 75% loan-to-value.
For new build properties, including shared ownership, the lender is also extending its mortgage offer validity period from three to six months, as well as increasing its mortgage offer valuation period from six months to seven.
Adrian Moloney, sales director at OneSavings Bank, said: “Following broker feedback we’ve been refining our new build proposition, particularly for shared ownership to reflect current market requirements.”
“The criteria changes, especially the minimum loan changes, reflect our continued commitment to extending our distribution, particularly in the North of England, where we have been steadily building our BDM support network to ensure that we can offer the same high levels of expertise and support for specialist brokers throughout the UK.”
