Marsden launches 95% residential mortgages

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.”

The Society’s new residential mortgage products are available on sourcing systems and on our Residential mortgage page.