Marsden BS revamps 'older borrowers' portfolio

The Marsden has reduced its product pricing, increased LTV bands and widened the product range to include two and three year discounted rate mortgages together with new fixed rate products that begin at 2.99%.

Steve Robinson, Head of Lending at Marsden Building Society, said:

"The changes are a result of the feedback we have received from our intermediary brokers. It was suggested that their clients were in need of increased product options and improved access to mortgage finance. The changes to our portfolios have seen an increase in product types, reduction in minimum property value and the introduction of higher LTV bands too.

"As a responsible lender, it’s important that we meet the needs of our members both present and future and that age should not be a barrier if we deem it responsible to lend. With a manual underwriting process, it’s much easier for us to assess applications on an individual basis allowing us to consider all elements of an ‘older borrower’ application. The key priority for us as a lender is to make sure that their mortgage is the right solution for them."