| Overpayments,
lump sum payments, and early repayment charges
It may be possible to make lump sum payments
or overpayments to your mortgage, depending
on the mortgage product you have chosen.
However, some products carry an early repayment
charge, so you should check the terms of
your mortgage offer very carefully before
making any lump sum payments.
A lump sum of £500 or more over and
above your normal monthly payment will be
treated as a capital repayment and could
therefore attract an early repayment charge.
Contact us to find out how an overpayment
or lump sum payment would affect your account. Details
of early repayment charges are specified
in the product details in the 'mortgage interest rates' leaflet.
Additional
borrowing
You can increase your borrowing with Kent
Reliance for home improvements or for a
variety of other purposes such as paying
for a car or holiday and the cost can be
spread over the remaining term of the mortgage.
As long as your account has been well conducted
and your total borrowing will not exceed
the maximum loan to value allowed, you will
be able to apply for additional borrowing
(subject to income multiples) which can
normally be made available in just a few
days.
Please call our Member Services Team on
08451 22 00 33* for more details and ask about Additional Borrowing. Alternatively, e-mail us at mail@krbs.com.
Payment
difficulties
If your circumstances change and you have
or think you will have difficulties with
your monthly payment please let us know
immediately. We will do everything we can
to help and will work with you to find a
solution and prevent unnecessary arrears.
Moving
home
All our mortgage schemes are portable, so
you can move home at any time without missing
out on the benefit of the mortgage product
you have chosen (subject to our lending
criteria at the time of any future move).
Even if you move during the initial special
deal period of a mortgage, the remaining
benefits of that special deal, subject to
the same terms and conditions, can be transferred
to your new mortgage with us. In this case
the early redemption charge will be waived,
but the existing rate will not apply to
any extra that you borrow.
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