It also offers free valuations on cases up to £500,000 and fee-assisted legal services for remortgages
Marsden Building Society has raised the maximum loan-to-value (LTV) on select expat residential mortgages to 85%, up from 80%.
The change applies to repayment mortgages, giving expatriate buyers more borrowing power.
This adjustment is part of Marsden’s broader effort to make expat mortgages more accessible. In August, the mutual expanded its lending criteria to accept applications from British nationals overseas, foreign nationals, and individuals with Skilled Worker Visas.
Earlier this month, Marsden Building Society announced an increase in the LTV ratio across its later life, lending into retirement and retirement interest only (RIO) mortgage products.
“The needs of our borrowers are always evolving, so adapting our products to suit their requirements is extremely important,” said Donna Barclay, head of mortgages at Marsden Building Society.
“We work closely with our broker network to ensure we’re offering the most appropriate solutions for their clients. As a result, we’re confident that this latest change will be well received by our expat borrowers.”
Marsden is also offering additional perks on expat residential mortgages, including free valuations on cases up to £500,000 and fee-assisted legal services for remortgages.
The updated products are now available through broker sourcing systems and on Marsden’s intermediary website.
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