Marsden BS raises BTL LTV to 80%
23 September 2015
Marsden Building Society continues to extend its range of Buy-to-Let mortgages available to their semi-exclusive partners and in line with broker demand has raised its maximum LTV to 80%.
Two new products are available, a 4.29% fixed rate to 31 December 2017 or a 3.69% discount to 31 January 2018. No upfront fees are required and the £1,995 arrangement fee can be added up to LTV80%.
Both products are available up to a maximum LTV80%, require a minimum property value of £150,00 and rental cover of 125%
Additional benefits include: Free standard valuation, the Fees assisted remortgage legals, are fully portable and allow 5% overpaymentsBoth products revert to the buy-to-let standard variable rate, currently set at 6.1%.
There are a number of benefits available to borrowers with both products including free standard valuation for properties and fees assisted remortgage legals again available for properties valued up to £500k when using the Marsden’s nominated legal firm, all products are fully portable, offer the borrower the chance to make 5% annual overpayment and require rental cover of 125%.
Heather Crinion, General Manager at Marsden Building Society, said:
“We offer lending solutions to borrowers looking for both residential and Buy-to-Let. Our focus on individual underwriting and personal service means that we can often offer solutions for our customers to help them borrow. The Society’s most recent update to our Buy-to-Let portfolio has seen an increase in the maximum LTV to 80% as we feel there is a demand in the market.
Our Buy-to-Let range has proven popular and our portfolio 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”
For further information on Marsden Building Society, please get in touch with the intermediary team at the Marsden, intermediaries@themarsden.co.uk or visit the website intermediaries.themarsden.co.uk
