Marsden Building Society

The Marsden has introduced a range of mortgages linked to family savings giving family borrowers a 'helping hand' on the property ladder .

  ·      Family Offset mortgage range available up to 100% of the property value
(subject to charged savings).

·      Link additional savings to existing offset mortgages.

·      Provide savings as additional security without giving the funds away altogether.

·      Support a higher level of borrowing and at the same time help to reduce the amount of interest charged.

·      Able to borrow a larger amount than would otherwise have been possible under affordability.

·      Tax efficient for higher rate taxpayer. Effectively getting interest at the full mortgage rate and because no interest is actually earned, there is no tax to pay.

Note: The Family Offset Deposit Assist is dependent upon the investor agreeing to the Society placing a charge on a savings account held with the Society. Access to the savings is restricted whilst the charge remains in place. The Society will only proceed where independent legal advice is taken

Please click on the link to download the Family Offset Mortgage Guide

Commenting on announcement

“The family offset mortgage complements our existing range of mortgage products designed to help people on to the housing ladder. The initiative allows family savings to be used as additional security, supporting a higher level of borrowing and by offering this new loan type as an offset mortgage there is an added benefit of helping to reduce the amount of interest charged.”    

Rob Pheasey, Chief Executive

PRESS RELEASE DATED July 2011