The range of buy-to-let mortgages available to Marsden Building Society’s semi-exclusive partners is being extended, the firm has revealed.
The new products are designed to maintain Marsden’s competitive edge as well as highlighting the importance of building societies in the marketplace.
Marsden’s new range is as follows: a two-year fixed 75% LTV buy-to-let mortgage, currently priced at 2.79% until the 30th November 2017. Arrangement fee: £1,995; or, alternatively, a two-year discount 75% LTV buy-to-let mortgage, priced at 2.85%, again until the 31st January 2018. Arrangement fee: £995.
Both these products return to the buy-to-let standard variable rate, which at the moment stands at 6.1%. They are available to semi exclusive partners with a net procuration fee of 0.50% (maximum procuration fee payable of £1,750).
A number of advantages come with both products. These include free standard valuation for properties and fees assisted remortgage legals, available for properties valued up to £500k when using Marsden’s nominated legal firm. All products are fully portable, offering the borrower the chance to make 5% annual overpayment and require rental cover of 125%.
“Our new product launch supports our broker relationships with the continued strong demand for buy-to-let mortgages,” Heather Crinion, General Manager at Marsden Building Society, said.
“We work closely with our partners to ensure that they have everything they need to support their clients with the best possible products and service.”
She added: “Our Buy-to-Let range has proven popular in the past and this move demonstrates our increased appetite for Buy-to-Let lending after a strong performance in the first half of the year. Our products are competitive, have great incentives and are delivered by our award-winning customer service team who look forward to assisting intermediary brokers with enquiries and future applications.”