Marsden Building Society has announced two new 95% loan-to-value (LTV) residential mortgage products, with rates starting at 4.99%.
New residential products from the Marsden:
- FX018: Fixed rate of 4.99% to 30/06/29 with a variable follow-on rate of 6.44% to 30/06/30.
- DS223: Discount rate of 5.59% to 31/01/28 with a variable follow-on rate of 6.44% to 31/01/30.
Requiring a 5% deposit and available on a repayment basis, the new 95% LTV residential products benefit from no credit scoring, free valuations of properties up to £500,000 and legal assist available on remortgage cases. Additionally, both products have no booking or arrangement fees.
To be eligible for a Marsden 95% LTV mortgage, the maximum loan amount is £500,000 and the mortgaged property must have a minimum value of £100,000.
Donna Barclay, Head of Lending at Marsden Building Society, commented: “We’re excited to announce this latest addition to our intermediary portfolio, designed specifically for clients looking for higher LTV residential lending. 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.”
