Rely Mortgages

Rely Mortgages | Buy-to-Let & Portfolio Landlord Advice

Rely Mortgages is a specialist buy-to-let lender from OSB Group, launched to provide mortgage finance for landlords ranging from first-time investors through to large professional property portfolios.

At Kerr & Watson, we may consider Rely for standard buy-to-let property, limited companies, trading companies, LLPs, portfolio landlords, HMOs, Multi-Unit Freehold Blocks and more complicated property-investment structures.

Rely can also consider some previous adverse credit and remortgages within six months of purchase, including cases where refurbishment has increased the property’s value.

Whether Rely is suitable will depend on the applicant, rental income, property, ownership structure, credit history and wider portfolio.

Rely Mortgages at a glance

Mortgage products and criteria can change, so we check Rely’s current requirements before recommending an application.

Who are Rely Mortgages?

Rely is a specialist buy-to-let lender within OSB Group.

The brand was launched in 2025 as part of OSB Group’s restructuring of its specialist mortgage propositions.

New BTL lending is now concentrated within Rely, while Precise Mortgages focuses primarily on specialist residential and bridging finance.

Rely is a trading name of OneSavings Bank plc.

Although the Rely name is relatively new, the proposition is backed by OSB Group’s long history of specialist landlord lending.

Who does Rely lend to?

Rely deliberately separates landlords according to the size of their mortgaged property portfolio.

Its current categories are:

Small landlords

Landlords with one to three mortgaged properties on completion.

Medium landlords

Landlords with four to ten mortgaged properties on completion.

Large landlords

Landlords with 11 or more mortgaged properties on completion.

This allows Rely to tailor products and underwriting according to the scale and complexity of the landlord’s business.

When might we consider Rely?

We may consider Rely where the circumstances involve:

• A standard BTL purchase.
• A BTL remortgage.
• A first-time landlord who already owns a home.
• A professional landlord.
• A substantial property portfolio.
• A limited company.
• A trading company.
• An LLP.
• An intercompany loan.
• A director’s loan.
• An HMO.
• A large HMO.
• A Multi-Unit Freehold Block.
• Several houses on one title.
• A property above commercial premises.
• An early remortgage.
• Recent refurbishment.
• Light historic adverse credit.

Rely has broad criteria, but that does not automatically make it the most appropriate lender for every landlord.

Standard Rely buy-to-let mortgages

Rely offers standard buy-to-let mortgages for the purchase and remortgage of residential investment property.

The current range includes mortgages up to 80% loan-to-value, subject to the exact property, product and applicant profile.

Both:

• Interest-only.
• Capital repayment.

mortgages are available.

The minimum current mortgage amount is £25,001 and the maximum published loan size is £10 million.

Rely first-time landlord mortgages

Rely accepts first-time landlords.

However, it is important to understand Rely’s definition.

At least one applicant must already be an existing property owner.

That existing property can be:

• Their residential home.
• An existing buy-to-let.

A genuine first-time buyer who has never owned any property would therefore not normally fit the current Rely proposition.

First-time landlords purchasing an HMO

Rely can also consider a first-time landlord purchasing an HMO.

This is relatively specialist because some lenders insist on previous landlord or HMO experience before accepting shared accommodation.

The applicant still needs to be an existing homeowner.

The property also needs to meet Rely’s:

• Planning requirements.
• Licensing requirements.
• Valuation criteria.
• Rental affordability calculation.

Rely limited company mortgages

Rely has a broad limited company buy-to-let proposition.

Unlike lenders that restrict company lending exclusively to Special Purpose Vehicles, Rely currently accepts:

• SPV limited companies.
• Trading limited companies.
• LLPs.

Companies must be registered in the UK.

This flexibility can make Rely particularly useful for established landlords whose ownership arrangements do not fit a conventional SPV-only lender.

Trading limited companies

A company does not necessarily have to have been created solely to own rental property for Rely to consider it.

Trading limited companies can be acceptable.

Rely will need to be satisfied that the company’s constitution and activities do not restrict it from:

• Purchasing property.
• Managing investment property.
• Selling investment property.

The complete company structure still needs to be understood before an application is submitted.

How many company directors can Rely accept?

Rely currently permits up to four directors or designated LLP members.

All directors or designated members must be included on the mortgage application.

Personal guarantees are required.

This differs from the treatment of ordinary non-director shareholders, who do not necessarily need to become mortgage applicants.

Your Mortgage Bible specifically records Rely as one of the lenders able to ignore shareholders who are not directors when determining who needs to be included on the application.

Rely director loans

A director’s loan can be used as a deposit in qualifying limited-company transactions.

For example:

Director personally provides £100,000 → SPV uses £100,000 as deposit

can potentially be acceptable.

The loan needs to meet Rely’s conditions, including being appropriately documented and reflected within the company’s accounts.

Current criteria require qualifying director loans used in this way to be non-interest bearing.

Transferring personally owned property into a company

Rely can consider an individual transferring an existing investment property into their own limited company.

The transaction needs to take place at full market value.

This is important because the transfer is normally treated as a genuine sale rather than simply changing the name on the mortgage.

There can be significant:

• Stamp Duty Land Tax.
• Capital Gains Tax.
• Legal.
• Accounting.

consequences.

Appropriate tax advice should therefore be taken separately.

Intercompany loans

Rely can also accept an intercompany loan as a source of funds.

For example:

Trading Company Ltd → lends deposit → Property SPV Ltd

can potentially be considered.

Current criteria require an appropriate connection between the ownership structures of the two companies.

The lending company must also be UK registered.

How does Rely treat an intercompany loan?

Rely currently requires the loan to be genuine and documented.

Requirements include areas such as:

• Agreed term.
• Loan agreement.
• Appropriate interest rate.
• No charge over Rely’s security.
• Connected ownership structure.

Any monthly payment due under the intercompany loan may also affect the property’s rental affordability calculation.

This is an important distinction from lenders that simply treat intercompany money as an unrestricted deposit.

Rely portfolio landlord mortgages

Portfolio landlords are a major part of Rely’s proposition.

A portfolio landlord is currently defined as someone with four or more distinct mortgaged BTL properties.

The calculation can include properties owned:

• Personally.
• Through limited companies.
• Where the applicant acts as guarantor.

Rely therefore looks through the complete property structure rather than treating each company entirely independently.

What does Rely assess across a property portfolio?

For portfolio landlords, Rely looks at:

• Property values.
• Mortgage balances.
• Rental income.
• Loan-to-value.
• Existing lenders.
• Ownership structures.
• Landlord experience.

Current portfolio criteria also require:

• A business plan.
• Cash-flow information.
• Asset and liability information.

The wider portfolio therefore matters as well as the individual property being mortgaged.

Rely portfolio stress testing

Rely applies a separate affordability assessment to the background portfolio.

Current criteria require the wider portfolio to meet minimum rental coverage and remain within the lender’s overall portfolio LTV requirements.

This means an individual new property can produce strong rent but the case may still fail if the wider portfolio is excessively leveraged.

Large professional landlords

Rely specifically categorises landlords with 11 or more mortgaged properties as large landlords.

This is one of the more distinctive aspects of the brand.

Rather than treating everyone with four properties the same, Rely has a separate proposition for larger professional investors.

This can be particularly relevant where a landlord has:

• Several companies.
• Substantial aggregate borrowing.
• Different property types.
• HMOs and MUFBs alongside standard properties.

Rely HMO mortgages

Rely provides specialist HMO mortgages.

A House in Multiple Occupation generally contains several unrelated tenants sharing some facilities.

Rely treats smaller and larger HMOs differently.

HMOs with up to six letting rooms fall within its standard-property definition for rental calculations.

HMOs containing seven or more rooms are treated as more complex property.

Rely large HMOs

Rely can consider larger HMOs containing seven or more bedrooms.

These normally require Sui Generis planning permission or appropriate evidence of lawful use.

Smaller HMOs generally require C4 planning where this is applicable because permitted development rights have been removed locally.

Licensing also needs to be addressed before completion.

HMO licensing

For a remortgage, Rely’s solicitor needs evidence that the required HMO licence is in place or has been applied for.

For purchases, the requirements depend partly on the size of the HMO and whether the applicant already operates another licensed property.

Larger HMOs have more stringent pre-completion licensing requirements.

This is one reason we establish the property’s:

• Planning use.
• Number of bedrooms.
• Current licence.
• Local authority requirements.

before submitting the application.

Rely HMO rental calculations

Rely currently applies higher Interest Coverage Ratio requirements to HMOs than conventional single-dwelling BTL property.

The calculation also differs according to whether the applicant is:

• A basic-rate taxpayer.
• A higher/additional-rate taxpayer.
• A limited company or LLP.
• A portfolio landlord.

Larger HMOs can be assessed more conservatively than smaller standard properties.

We therefore calculate the maximum mortgage before recommending a particular Rely product.

Multi-Unit Freehold Blocks

Rely also lends on Multi-Unit Freehold Blocks.

A MUFB normally consists of several self-contained residential units held on one freehold title.

For example:

One freehold building → eight individual flats

would generally be assessed as a Multi-Unit Block.

Rely can consider both smaller and significantly larger blocks.

Large Multi-Unit Blocks

Rely’s current valuation criteria specifically provide for blocks containing 20 or more units.

Blocks below 20 units are normally valued using an aggregate valuation of the individual units.

Once the block contains 20 or more units, Rely uses a block investment valuation.

This confirms that Rely’s specialist MUFB appetite extends beyond the small six-unit blocks accepted by many BTL lenders.

Multiple houses on one title

Rely can also consider multiple residential houses held under one title.

These cases fall within its more complex BTL criteria.

For example:

One freehold title → three separate houses

requires a different assessment from one conventional BTL house.

The valuer will need to establish:

• Overall marketability.
• Individual unit values.
• Rental income.
• Legal configuration.

Hybrid HMO and MUFB property

Rely’s current affordability criteria also recognise hybrid securities.

A hybrid property could combine:

• HMO accommodation.
• Self-contained flats.
• Several residential configurations within one security.

For rental-affordability purposes, Rely treats hybrid securities under its HMO methodology.

These properties should generally be discussed before application because the precise configuration determines the valuation and affordability approach.

Rely and property above commercial premises

Rely can consider residential investment property above or attached to commercial premises.

Acceptance is subject to the valuer and conveyancer being comfortable with the property.

This could include a flat above:

• A shop.
• An office.
• Another commercial unit.

The nature of the business underneath remains important.

A quiet office is likely to present a different risk from premises producing significant noise, smell or late-night activity.

Flying freeholds

Rely can consider a flying freehold provided it does not exceed 20% of the property’s total floor area.

A flying freehold occurs where part of one freehold property extends over or beneath land belonging to another owner.

These properties can involve additional legal rights around:

• Access.
• Repair.
• Support.

The conveyancer must be satisfied that the title provides adequate protection.

Rely new-build buy-to-let mortgages

Rely accepts new-build and recently converted investment property.

Qualifying new-build properties require an acceptable warranty or other suitable certification.

New-build offers currently remain valid for longer than Rely’s standard mortgage offers.

New-build lending can also be subject to different property and valuation requirements.

Rely remortgages

Rely accepts buy-to-let remortgages.

Capital raising can be considered for most legal purposes.

The lender currently specifically excludes capital raising where the purpose is:

• Shoring up a business.
• Repaying gambling debts.

We would establish the intended use of funds before the mortgage application is submitted.

Rely remortgages within six months

Rely can consider a property being remortgaged within six months of purchase.

This is a useful feature for property investors because many lenders impose a blanket six-month ownership rule.

The basis of valuation depends on what has happened since purchase.

Early remortgage where no work has been completed

Where the landlord purchased the property recently and has not carried out improvement works, Rely currently bases maximum lending on the lower of:

• Original purchase price.
• Current market value.

This prevents a borrower simply purchasing a property and immediately refinancing against an unsupported increase in value.

Early remortgage after refurbishment

Where genuine improvement works have been completed, Rely can consider the post-works market value.

The valuer must be satisfied that the works have taken place.

This can make Rely relevant for investors following a strategy such as:

Purchase → Refurbish → Remortgage → Retain

The property must not be a new build for this early-remortgage exception.

Inherited property

Rely can also consider recently inherited properties.

Probate or the appropriate letters of administration need to be granted before the mortgage proceeds through the relevant stages.

Inherited-property cases can have different legal and tax considerations from conventional purchases.

Rely adverse credit

Rely has separate mortgage products for landlords with different credit histories.

The current structure includes:

• No adverse.
• Light adverse.
• Light adverse+.

This allows some applicants with previous financial problems to be considered rather than restricting the whole range to completely clean credit.

Light adverse credit with Rely

Rely’s current light-adverse ranges can consider circumstances involving previous:

• CCJs.
• Defaults.
• Secured missed payments.
• Unsecured credit arrears.

The more specialist Light Adverse+ criteria can currently consider, among other things, one qualifying CCJ of up to £3,000 registered within the last 24 months, provided it was not registered within the previous 12 months.

Similar time restrictions apply to defaults and secured missed payments.

Current limits should always be checked against the complete credit report before application.

Does adverse credit have to be satisfied?

Rely currently requires qualifying CCJs and defaults falling within its criteria to be satisfied or settled by the relevant stage of the application.

Small older CCJs can sometimes be disregarded under the lender’s current rules.

We would normally review the full credit report rather than relying on a customer remembering individual credit events.

Rely rental affordability

Rely uses Interest Coverage Ratio calculations to determine how much rental income a property needs to generate.

The calculation varies according to:

• Property type.
• Tax status.
• Personal or company ownership.
• Portfolio status.
• Mortgage product.

This means the same £1,500 monthly rent may support different mortgage amounts for different landlords.

Basic-rate taxpayers and limited companies

Qualifying basic-rate taxpayers and limited companies generally benefit from lower ICR requirements than higher or additional-rate personal borrowers.

This is common across specialist BTL lending because personal tax treatment affects the lender’s affordability model.

That does not mean a limited company is automatically the most appropriate ownership structure.

Tax advice should be obtained separately.

Portfolio landlords and ICR

Rely applies additional rental-stress requirements where an applicant is a portfolio landlord.

This means the affordability calculation for someone with 12 properties can differ from an applicant purchasing their first BTL.

Portfolio status therefore needs to be established accurately before product selection.

Rely company lets

Rely’s current criteria can accommodate certain contractual or common-law tenancies, including qualifying company lets.

However, the tenancy agreement must prevent the tenant from:

• Subletting.
• Assigning the tenancy.
• Multi-letting.
• Parting with possession.

This means a straightforward company tenancy is different from a rent-to-rent or unrestricted subletting arrangement.

The exact agreement should be checked before application.

Tenancy length

Rely currently permits fixed tenancy terms of up to 36 months.

Where a tenancy runs for more than 12 months, additional rent-review requirements can apply unless the mortgage product is fixed for an equivalent period.

Multiple tenancies are acceptable for appropriate HMOs and MUFBs.

Family tenants

Rely does not accept applications where the tenant is a family member of the borrower.

A property let to a close relative can change both:

• Lending criteria.
• Regulatory status.

Another lender may therefore be required for a family BTL arrangement.

Rely does not accept Consumer Buy-to-Let

Rely does not currently accept Consumer Buy-to-Let applications.

Consumer BTL can arise where a property became a rental property through circumstances rather than being purchased primarily as a business investment.

Examples may include:

• A former home being rented out.
• An inherited property.
• Other non-business landlord situations.

Whether a transaction is Consumer BTL depends on the complete circumstances.

If it is classified as Consumer BTL, we would consider another lender.

Rely does not accept let-to-buy

Rely also does not currently accept let-to-buy.

Let-to-buy usually involves:

• Retaining your current home.
• Converting it into a rental property.
• Buying another property to live in.

This is a notable restriction compared with several other BTL lenders.

If you are planning a let-to-buy transaction, we would compare lenders specifically offering that type of mortgage.

Holiday lets

Rely does not currently offer holiday-let mortgages.

OSB Group directs holiday-let enquiries towards its sister specialist lender InterBay.

As a whole-of-market broker, we would also compare appropriate holiday-let lenders elsewhere in the market rather than limiting the search to the OSB Group.

Rely residency requirements

Rely’s current proposition is aimed at UK-resident applicants.

All applicants currently need:

• Three years’ UK residential history.
• To be UK resident at completion.

Non-UK nationals also need appropriate permanent rights to remain in the UK.

This means Rely is not currently an expat BTL lender.

Rely property locations

Rely currently lends on properties in:

• England.
• Wales.

Its standard proposition does not extend to Scotland or Northern Ireland.

This is important for portfolio landlords with properties throughout the UK.

Leasehold property

Rely can consider leasehold BTL property subject to an acceptable remaining lease.

Current criteria require at least 50 years remaining at the end of the mortgage term.

Where the lease has fewer than 85 years remaining at application, the maximum LTV is currently restricted to 75%.

This can be relevant when purchasing or remortgaging older flats.

Minimum property value

Rely’s current general minimum property value is £75,000, subject to individual product criteria.

Studio flats below 30 square metres are not acceptable under the current standard criteria.

Specialist Multi-Unit properties are assessed differently because the lender takes security over the complete block.

Existing Kent Reliance customers and Rely

Rely should not be confused with Kent Reliance.

Kent Reliance withdrew from new mortgage lending in December 2025 but continues to service existing Kent Reliance borrowers.

An existing Kent Reliance BTL mortgage does not automatically become a Rely mortgage.

If an existing Kent Reliance borrower wanted to move to Rely, this would normally involve a new Rely mortgage application rather than an internal Kent Reliance product transfer.

Rely and Precise Mortgages

Rely and Precise are both specialist brands within OSB Group, but they now have different roles.

Rely:

• New buy-to-let mortgages.

Precise:

• New specialist residential mortgages.
• Bridging finance.

This distinction is important because older OSB Group criteria may refer to BTL products previously offered under Precise or Kent Reliance.

For a new landlord application, it is Rely’s current criteria that matter.

When might Rely not be the right lender?

Rely has a broad specialist buy-to-let proposition, but another lender may be more appropriate where:

• You are a genuine first-time buyer with no existing property ownership.
• The transaction is Consumer Buy-to-Let.
• You need a let-to-buy mortgage.
• You require a holiday-let mortgage.
• You are an expat or currently live overseas.
• You need a property in Scotland or Northern Ireland.
• The property’s rent does not meet Rely’s ICR calculation.
• Your company structure falls outside its requirements.
• Your recent adverse credit exceeds the relevant range.
• Another lender offers a more favourable rental assessment.
• Another lender provides lower overall mortgage costs.

The fact that Rely can accommodate complexity does not mean it should automatically be used for every specialist BTL application.

What we check before recommending Rely

Before recommending Rely, we normally establish:

• Property value.
• Purchase price.
• Rental income.
• Required mortgage.
• Deposit.
• Loan-to-value.
• Property type.
• Existing property ownership.
• Landlord experience.
• Credit history.
• Residency.
• Wider portfolio.

For limited companies and LLPs, we also review:

• Company type.
• Directors.
• Shareholders.
• Ultimate beneficial ownership.
• Trading activities.
• Deposit source.
• Director loans.
• Intercompany loans.

For HMOs and Multi-Unit properties, we additionally consider:

• Number of rooms or units.
• Planning.
• Licensing.
• Property configuration.
• Tenancy arrangements.
• Valuation method.
• Rental calculation.

This enables us to establish whether Rely genuinely fits before an application is submitted.

Do you have to use Rely Mortgages?

No.

Kerr & Watson is an independent, whole-of-market mortgage brokerage, so we can compare Rely with other specialist and mainstream buy-to-let lenders.

Rely can be particularly useful for limited companies, trading companies, portfolio landlords, HMOs, Multi-Unit Blocks, early remortgages and some applicants with previous credit issues.

However, another lender may provide a better rental calculation, property policy, company criteria or overall cost.

Our role is to identify which lender and mortgage provide the most appropriate overall solution for your circumstances.

Speak to a mortgage adviser about Rely Mortgages

If you are considering Rely for a standard buy-to-let, limited company, portfolio, HMO, Multi-Unit Block or specialist remortgage, we can review the transaction before you apply.

We can assess the property, rent, ownership structure, credit history and wider portfolio before comparing Rely with other suitable lenders.

Speak to an Adviser

Lender criteria, affordability calculations, product availability and lending terms can change. The information on this page is intended as a general guide and should not be relied upon as confirmation that a lender will accept a particular application or that a particular mortgage or finance product will be suitable for you.

The information on this page does not constitute personalised mortgage advice or a recommendation. The regulatory status of a mortgage or loan depends on the type of transaction and your circumstances. Many buy-to-let and commercial mortgages, and some bridging loans, are not regulated by the Financial Conduct Authority. Your home or other property may be repossessed if you do not keep up repayments on a mortgage or other loan sPlanning permissionecured against it.

Your Mortgage In 3 Easy Steps…

Conversation

---

Schedule a call to speak to a mortgage adviser about your circumstances, borrowing requirements and property plans.

Alternatively give us a call on 01252 224620 or email us on info@kerrandwatson.co.uk.

Research

---

We will use the information you’ve provided to research suitable mortgage options across the market and explain our recommendation to you.

If you need an Agreement in Principle, we can also arrange this as part of the process.

Application

---

Once you’re ready to proceed, we will submit the full mortgage application and supporting documents to the lender.

We will liaise with the lender and its underwriters, respond to any additional requirements and keep you updated until the mortgage offer is issued and through to completion.

Talk To Us

Featured In

 
 
 
 
 
 
 
  
 
 
 
 Posted on Google  
 
  
 
 
 charlotte yates 
 
21 July 2026
 
 
  
Marie Kitchener was extremely helpful with a difficult , quite complex case. Marie responded to our questions with understanding, great knowledge and we trusted her advice.  The solicitor she recommended was brilliant too. Highly recommend Kerr & Watson.
  
 
  
 
 
 
 Posted on Google  
 
  
 
 
 Lauren Murray 
 
30 June 2026
 
 
  
Marie Kitchen was absolutely fabulous. We had an incredibly complicated case due to living abroad and a few hiccups along the way. Marie was persistent and helped us to resolve these efficiently. Highly recommend.
  
 
  
 
 
 
 Posted on Google  
 
  
 
 
 Michelle 
 
8 June 2026
 
 
  
My 2nd time dealing with Kerr & Watson and they didn't disappoint, great service, professional and patient - big shout out to Andreea & Stephen
  
 
  
 
 
 
 Posted on Google  
 
  
 
 
 Sean Turner 
 
2 June 2026
 
 
  
I had an excellent experience with Kerr and Watson and would happily recommend them. A special mention has to go to James, who provided exceptional service throughout. He was professional, approachable, clear in his communication and always willing to help. His support made a huge difference, and we genuinely couldn’t have done it without him. I would not hesitate in recommending K&W to any family or friends.
  
 
  
 
 
 
 Posted on Google  
 
  
 
 
 Jackie 
 
15 May 2026
 
 
  
Brad was quick with getting me the right mortgage insurance prior to a move abroad. Polite and professional. Also liked that he would call to remind me take any actions if I hadn't responded to emails
  
 
  
 
 
 
 Posted on Google  
 
  
 
 
 Ade Kunle 
 
1 May 2026
 
 
  
I will always recommend Kerr & Watson to friend and family.
  
 
  
 
 
 
 Posted on Google  
 
  
 
 
 Minzel 33 
 
23 April 2026
 
 
  
This is my second product with Matthew, securing a BTL for my LTD with the best rate on the market. Once again great support, guidance and smooth process. Highly recommended, knowledgeable team. Reliable service.
  
 
  
 
 
 
 Posted on Google  
 
  
 
 
 Freya B 
 
14 April 2026
 
 
  
The team at Kerr & Watson were brilliant end to end. Daniel explained everything clearly, was always available to answer questions and helped us secure a great mortgage rate. The mortgage broking service they offer is worth every penny and I'd not hesitate to use them again. Thank you!
  
 
  
 
 
 
 Posted on Google  
 
  
 
 
 Dean Langton 
 
7 April 2026
 
 
  
Excellent service and very nice people. Would highly recommend using them.
  
 
  
 
 
 
 
    
 
 

Awards & Recognition

Contact Us

Free initial conversation. No obligation.

Not ready to apply yet? That’s fine — we can start with a quick conversation about your options.

First Name *

Advice Phone First

Surname *

Phone *

Email *

Advice *Residential MortgageBuy to Let MortgageBridging & CommercialLater Life LendingInsuranceAnything else…

Message *

Submit

We aim to respond within a few hours during working days.

By submitting this form you agree that Kerr & Watson may contact you regarding your enquiry.

Your information will be handled in accordance with our Privacy Policy.