Marsden BS launches retirement interest-only range

The proposition launches with a three-year fixed rate at 3.49% up to 50% LTV, available for purchase and remortgage up to £750,000.

The products will be available through sourcing systems for all intermediaries and the Marsden has created a dedicated area on its website including criteria and toolkits for brokers.

Steve Robinson, head of lending at Marsden Building Society, said: “We feel it’s a strong addition to our lending solutions and partners well with our older borrower range supporting more customers over the age of 55 with mortgage options in retirement.

“The range differs slightly from our existing older borrower range as each borrower must demonstrate affordability and the sole option for repayment is triggered by a life event which sees the sale of property being the repayment solution.

"We’ve created another section on our website for the RIO and developed tailored toolkits including criteria and product portfolios so that brokers have access to everything they need.”