Marsden makes expat residential and expat buy-to-let products whole of market
Marsden Building Society has widened its lending solutions so all intermediaries can gain access to its expat proposition.
Marsden has been lending in this market since 2012, supporting intermediaries and their clients through exclusive distribution channel.
Ray Boulger, senior technical manager at John Charcol, said: “We’ve already had access to that but clearly it’s helpful from a broker perspective if lenders make their products generally available.
“It’s a business decision – they must have an appetite for this type of business so is allowing applications from more brokers.
“Marsden is one of the small building societies that are very useful for clients who are good quality but won’t tick the boxes of ‘the computer says no’ lenders. Marsden can make a decision on each case on its merits.”
Steve Robinson, head of lending at the Marsden said: “Our focus is to provide a wide range of lending solutions for intermediaries.
“Our lending solutions are positioned to provide support for underserved markets and how we, as a lender can help support intermediaries and their clients more in these areas whether it be through criteria adjustments or our pricing.”
“For us, expat lending has always been something that intermediaries and their clients needed and increasing the access for them is important to ensure they’re able to offer more choice in their mortgage solutions.
“Over 5.5 million British people live permanently abroad and whether they’re looking to maintain a level of income through a buy-to-let or support their family in a residential mortgage- we offer tailored expat lending solutions”.
The Marsden’s expat buy-to-let product range offers four discount rate products from 2.89%. There’s a selection of 2 and 3-year products available up to 75% LTV on interest-only or repayment. Products are available for a loan size up to £750,000 and 5% overpayments.
A wider range of five products are available in the expat residential range, with 2-year products starting at 2.79% at 60% LTV and 3.29% up to 80% LTV.