Kent Reliance Building Society - Fixed Rate Mortgages, Self Build, Shared Ownership Mortgages from UK.

Interest rates

You can choose from a variety of mortgage products which offer one or a combination of the following types of interest rates:

Variable rates

With a variable rate mortgage the interest rate may change whenever our lending rates are altered, normally in response to changes in Bank of England Base Rate. During the lifetime of a mortgage there may be several interest rate movements – both upwards and downwards.

There are several types of variable rate mortgage, and at any one time we may offer one or more of the following variable rate products:

Standard Variable Rate (SVR)

This is our basic mortgage rate against which most of our other schemes are set.

Discounted Variable Rate

A discount from the Standard variable rate is available for a period of time, giving you the benefit of initial lower monthly payments.

Capped Rate - CURRENTLY NOT AVAILABLE VIA KENT RELIANCE.

A variable rate loan where the interest rate is ‘capped’ at a top level for a period of time. This means you have the security of knowing that you will pay no more than the capped rate, but still get the benefit of any rate reductions. At the end of the capped rate period the cap is removed and interest charged from then on is at our Base rate tracker rate.

Discounted Capped Rate - CURRENTLY NOT AVAILABLE VIA KENT RELIANCE.

A variable rate loan with a discount from our Standard variable rate during the capped rate period.

Tracker Rate

An interest rate which is linked to another variable rate and tracks its movements. It is usually linked to the Bank of England Base Rate.

Fixed rates

The interest rate is fixed at a certain level for a specific period. During this time the rate will not change - even if rates go up or down. This gives you budget certainty. From the end of the fixed rate period, interest is charged at our Standard variable rate.