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13th October 2021 - Residential mortgages for your clients
Here at the Marsden, we have a range of Residential products available to support your first-time buyers, home-movers and those looking to remortgage an existing property.
You can find our latest rates on our ‘Residential products’ page.
Key criteria for our Residential range
For our Residential range, we require a minimum loan size of £30,000, maximum loan size dependent on the LTV of the product, and a minimum property value of £100,000. We allow additional borrowing if your clients are looking to make home improvements on their property, up to 85% LTV or debt consolidation up to 80% LTV (subject to a £30,000 limit).
To take out a Residential mortgage, your client will need to be aged 21 or over, or if it’s a joint application, at least one applicant must be 21 or over. The loan must be repaid before the oldest applicant’s state retirement age, or their intended retirement age; whichever comes first.
They’ll need to be either employed, self-employed or contracted, although different rules will apply depending on their employment status, which you can find out more about on our ‘Residential criteria’ page.
We offer mortgage terms from 5 years (product dependent), up to a maximum of 35 years. We’ll only consider remortgage applications if your client has been the registered owner of their property for the past 6 months.
Frequently asked questions
Do you lend outside of your local area?
Yes. Although we’re based in Lancashire, the Society lends throughout England and Wales.
Do you credit search Intermediary mortgage AIPs?
Yes, a credit search will be carried out and leave a soft footprint on your client’s record. We do this so a decision can be made as to whether credit is available to the client.
Can I submit Intermediary mortgage applications online?
Yes, you can apply using Intermediary Online, our online mortgage application platform. You’ll need to register with us to use the platform, but you’ll be able to create and edit applications, upload documentation and receive notifications at each stage of the process. You can find out more on our ‘Apply’ page.
If you’ve got a case in mind, but want to find out more, visit our ‘Residential FAQs’ page. Alternatively, if you’d like to talk with our Intermediary Support Team, you can get in touch on our ‘Contact’ page; we’ll be happy to answer any questions you may have.