Kent Reliance business banking review
Kent Reliance is a UK-based specialist savings and mortgage provider, offering personal and business savings accounts, residential mortgages, and buy-to-let lending. It operates under OneSavings Bank, focusing on competitive savings products and flexible lending solutions.
Key features of Kent Reliance
1. Savings accounts
- Fixed-rate bonds: Higher interest rates for long-term savers.
- Easy access savings: Flexible withdrawals with competitive rates.
- Cash ISAs: Tax-free savings options with fixed or variable rates.
- Business savings accounts: Suitable for SMEs and charities.
- FSCS protection up to £85,000 per eligible depositor.
2. Mortgage and lending services
- Residential mortgages: Available for first-time buyers and home movers.
- Buy-to-let mortgages: Designed for landlords, including portfolio lending.
- Specialist mortgages: Self-employed, complex income, and adverse credit applicants.
- Shared ownership mortgages: Helps buyers purchase a portion of a property.
3. Business and charity banking
- Business savings accounts: Competitive interest rates for SMEs.
- Charity savings accounts: Ethical savings options for non-profit organisations.
- No transaction fees: Most savings accounts do not have hidden charges.
4. Digital and branch banking
- Online banking: Secure management of savings accounts.
- Limited branch network: Primarily operates via post, phone, and online.
- Dedicated customer service: UK-based support for mortgage and savings customers.
Kent Reliance fees and pricing
1. Savings account fees
- No monthly maintenance fees.
- Early withdrawal penalties apply for fixed-term savings accounts.
2. Mortgage and lending fees
- Arrangement fees: Typically added to the loan amount.
- Valuation and legal fees: Required for most mortgage applications.
- Early repayment charges: Apply to fixed-rate mortgage products.
Pros and cons of Kent Reliance
Pros
- Competitive savings rates with fixed-term and easy access options.
- Specialist mortgage lending for complex income and buy-to-let investors.
- FSCS protection for deposits up to £85,000.
- Tailored business and charity savings accounts.
- Dedicated customer support for mortgage and savings customers.
Cons
- Limited branch access, mainly operating online and via post.
- No personal current accounts, focused only on savings and lending.
- Mortgage eligibility criteria can be strict for some applicants.
- Early withdrawal penalties for fixed-term savings accounts.
How Kent Reliance compares to competitors
| Feature | Kent Reliance | Aldermore Bank | Shawbrook Bank | Coventry Building Society |
|---|---|---|---|---|
| Savings accounts | Yes | Yes | Yes | Yes |
| Business savings | Yes | Yes | Yes | Limited |
| Residential mortgages | Yes | Yes | No | Yes |
| Buy-to-let mortgages | Yes | Yes | Yes | No |
| FSCS protection | Yes (£85,000) | Yes (£85,000) | Yes (£85,000) | Yes (£85,000) |
| Ideal for | Savers, landlords, homebuyers | Savers, SMEs | Investors, high-net-worth | Homeowners, savers |
Who should use Kent Reliance?
- Savers seeking competitive interest rates: Offers attractive fixed-term and easy access options.
- Landlords and property investors: Provides flexible buy-to-let and portfolio mortgage solutions.
- Homebuyers with complex income: Specialist mortgage products for non-traditional applicants.
- Charities and businesses needing secure savings: Offers ethical savings with no hidden fees.
Our verdict
Kent Reliance is a trusted specialist savings and mortgage provider known for its competitive rates and flexible lending solutions. Its strong buy-to-let mortgage offerings and tailored savings accounts make it a top choice for landlords, homebuyers, and businesses.
However, its limited branch network and lack of current accounts may not suit customers looking for full-service banking. For those needing high-yield savings and specialist mortgages, Kent Reliance provides a reliable and competitive alternative to mainstream banks.