Beneficial Network adds Reliance Bank to lender panel

16 April 2024

Mortgage and protection network Beneficial has added Reliance Bank to its mortgage panel.

Members of Beneficial Network now have access to Reliance Bank’s range of First-Time-Buyer (FTB), Key Worker, and Shared Ownership mortgages.

Beneficial Network charges a flat monthly fee and offer 100% Procuration fees and commissions, so the money advisers earn, they keep. They provide a 100% file checking process, plus offer over 90+ lenders for residential and commercial mortgages as well as providers who offer protection, general insurance and equity release.

Reliance Bank, formerly known as the Salvation Army Bank, was formed in 1890 and still donates up to 75% of its profits to The Salvation Army International to support its evangelical and charitable work.

Mat Rees, Chief Executive Officer at Beneficial Network, says: “We are thrilled to have Reliance Bank on our panel.
“FTB, Shared Ownership, and Key Worker Mortgages are all essential areas of the mortgage market, and Reliance Bank’s addition to our panel will ensure our members have much-needed solutions for this group of borrowers.

“Reliance Bank has a strong reputation not only for its social impact but also for providing excellent service.

“We are looking forward to working with the bank and are confident that our members will appreciate its personalised, flexible, and manual underwriting process, benefiting our advisers and their customers.”

Gareth Byrne, Head of Mortgages at Reliance Bank, says: “I am delighted that we have joined Beneficial’s lender panel.
“We are looking forward to helping its advisers meet the needs of their mortgage clients with our range of specialist mortgages. Members can also be confident that they are helping their clients borrow money in a socially responsible way, from a lender committed to ethical banking.”