The Marsden Building Society relaxes its standard residential loans covering property types, income levels and professional sports personnel.
Highlights of mutual change include:
- The income multiple of the sole applicant who earns over £75,000 or £100,000 has increased from 4.5 to 5.5 times
- Now, the loan range for accepting a second set of immediate family or personal holidays on a mortgage is 75%
- Now, a maximum of four applicants can be considered for residential mortgages, where there is a direct family relationship, up to 80% of LTVs to a maximum age of 90 at the end of the mortgage term
- Accept up to 30 acres of properties now with up to 80% LTV, assuming
- Professional sports personnel receive up to 80% of LTV at the end of the mortgage period, with a maximum retirement age of 40, unless sufficient investment or post-retirement income can be determined
Donna Barclay, head of mortgage for the Marsden Building Association, said the changes “reflect our commitment to providing tailor-made services based on intermediary feedback.
“We are confident that these changes will help provide more flexibility and accessibility to our residential borrowers.”
