Reliance Bank has refreshed its home loans range for the intermediary and direct market, but keeps cash back incentives for key workers and shared ownership completions.

The specialist lender adds that it will accept gifted deposits from family and friends where the source of funds are from the UK.

It says key worker applicants will receive £400 cashback within 60 days of the date of mortgage completion. Cashback does not apply to cases where the borrowing amount is less than the £125,000 qualifying loan amount.

Key worker products for up to 90% loan to value can be used for both purchase and remortgage applications.

The jobs the bank classifies as key workers include NHS staff, teachers, charity workers, firefighters, transport staff and postal workers (excluding couriers).

Shared ownership applicants receive £850 cashback within 60 days of the date of mortgage completion. Cashback does not apply to cases where the borrowing amount is less than the £75,000 qualifying loan amount.

The firm says all end dates have been extended to 30 November – 30 November 2024 for all two-year fixed-rate products and 30 November 2027 for all five-year fixed-rate offers.

It adds that if a product fee is added to the loan amount, then the total loan amount cannot exceed the LTV for the product.

Minimum loan amounts for the bank’s products remained unchanged, as does its early repayment charge treatment.

It does not offer free valuations or free legal fees.

Reliance Bank head of mortgages Gareth Byrne says: “It’s good to reenter the market after a period of time spent improving service levels.”