New high-LTV options cater to first-time buyers and remortgaging homeowners
Marsden Building Society has introduced two new 95% loan-to-value (LTV) residential mortgage products, with rates starting from 4.99%.
The first product offers a fixed rate of 4.99% until June 30, 2029, followed by a variable rate of 6.44% until June 30, 2030. The second product features a discounted rate of 5.59% until January 31, 2028, transitioning to a variable rate of 6.44% until January 31, 2030.
Both products, available on a repayment basis, require a 5% deposit and include benefits such as no credit scoring, free property valuations on homes worth up to £500,000, and legal assistance for remortgage cases. In addition, there are no booking or arrangement fees associated with these products.
To qualify, applicants can borrow up to £500,000, with a minimum property value of £100,000.
The mutual has recently raised the maximum LTV on select expat residential mortgages to 85%, up from 80%, as part of its broader effort to make expat mortgages more accessible.
Donna Barclay, head of lending at Marsden Building Society, said the new residential products aim to provide more options for borrowers with smaller deposits or those looking to remortgage at a high LTV.
“We’re excited to announce this latest addition to our intermediary portfolio, designed specifically for clients looking for higher LTV residential lending,” she added. “From first-time buyers with a smaller deposit to homeowners remortgaging to borrow more with a higher LTV, we hope to equip mortgage advisors with more lending options for their clients across England and Wales.”
The new mortgage products are available via sourcing systems and the Marsden Intermediary website’s residential mortgage page.
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