Beneficial Network has added Reliance Bank to its mortgage panel.

Members of the mortgage and protection network now have access to Reliance Bank’s range of first-time buyer, key worker and shared ownership mortgages.

Beneficial Network charges a flat monthly fee and offers 100% procuration fees and commissions, so the money advisers earn, they keep.

The network also provides a 100% file checking process and offers over 90 lenders for residential and commercial mortgages as well as providers that offer protection, general insurance and equity release.

Chief executive officer at Beneficial Network, Mat Rees, said: "First-time buyer, 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."

Reliance Bank, previously known as the Salvation Army Bank, still donates up to 75% of its profits to The Salvation Army International to support its charitable work.

Head of mortgages at Reliance Bank, Gareth Byrne, added: "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."

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