Marsden offers options for customers between 55 and 85, with prices starting from 2.39% for a 2-year discount, 2.59% for a 3-year discount and 2-year fixes from 2.89%.
Marsden Building Society has launched a partnership with the Equity Release Club and its products will be on AIR Sourcing, the sourcing system for equity release and retirement lending products.
Marsden offers options for customers between 55 and 85, with prices starting from 2.39% for a 2-year discount, 2.59% for a 3-year discount and 2-year fixes from 2.89%.
Stuart Wilson, director at Equity Release Club and AIR Sourcing, said: “While this product is a ‘traditional’ style mortgage requiring underwriting, we believe it is ideal for those borrowers who have income and want the best available rates on the market specifically for older customers.
“We are certain that the highly competitive pricing and the range of features available will be of keen interest to our club members and their clients.
“We have all witnessed a huge surge of clients being forced out by their current lenders as their mortgage terms expire, and we believe this product could be suited to meet the needs of clients who are not ready for equity release products but who are failing to meet lender’s affordability and underwriting criteria when it comes to conventional mortgages.”
The society offers underwriting on pension and investment income and it will accept up to 25% of total income generated from buy-to-let properties.
Heather Crinion, general manager, operations, at Marsden Building Society, said: “This range offers a conventional mortgage option for clients, where a lifetime mortgage may not be the most appropriate one for their needs.
“Our teams individually underwrite each case ensuring a common sense approach is taken for every case.”
