Marsden Building Society has created an older borrower checklist which provides intermediaries with a clear list of required information needed to support their client’s case.
Steve Robinson (pictured), head of lending at Marsden Building Society, said: “At the Marsden, an older borrower case for is processed in the same way as a standard residential, however there are some differences in what we needed to confirm affordability to support affordability and client eligibility.
“Especially with older borrower cases, we were finding that intermediaries were often querying exactly what’s needed to confirm affordability so we put together our checklist to help to reduce any time spent back and forth for intermediaries and their clients.
“A good example of the benefits being our flexible affordability criteria around older borrowers where we accept pension income, earned income up to the age of 75 and income from property and investments too, the checklist shows how much of each source of income we will take and what is needed to evidence it from your client.
“We understand that there’s so much that intermediaries have to contend with and as a lender we want to support the process to make it as straightforward as possible.”