Residential FAQs
If you have a case in mind, but want to find out more, we’ve answered some frequently asked questions about our Residential mortgages below. You can find out more about our range of products on our Residential product page or about criteria for your cases on our Residential criteria page.
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Can I submit intermediary mortgage applications online?
Yes, you can submit an application using Intermediary Online. You’ll need to register 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.
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Can I download intermediary mortgage application forms?
Yes, you can download a mortgage application form on our Downloads page. We can accept applications and supporting documents via email in the first instance at intermediaries@themarsden.co.uk but the original application form will need to be posted to our Principal Office address; Marsden Building Society, Principal Office, 6-20 Russell Street, Nelson, BB9 7NJ.
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Do I need to register to submit an intermediary mortgage application?
No – there is no need to pre-register if you’re applying via paper application, we will use the information provided when you submit your first application with us. If you want to submit your application online, you will need to register for our Intermediary Online service.
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Do you accept applications where the client has CCJs or defaults?
CCJ’s/Defaults within the last 3 years are not acceptable.
CCJ’s/Defaults => 3 years prior to application are acceptable up to a maximum £2,500, subject to an explanation and being cleared/satisfied 12 months prior to application.
No other adverse entries must show on credit file.
CCJ’s/Defaults are not acceptable over 80% LTV.
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Do you accept applications where the client is a discharged bankrupt or has an Individual Voluntary Agreement?
No – applications from the above are not acceptable.
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Do you credit search intermediary mortgage AIPs?
Yes – a credit search will be carried out which will leave a soft footprint on your clients record. This is so a decision can be made as to whether credit is available to the client.
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Do you have any compulsory insurance?
No – there are no compulsory insurances that have to be taken via the Society. Buildings insurance is, however, compulsory, and if not arranged through the Society, a policy schedule must be in place prior to completion.
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Do you lend outside of your local area?
Yes – the Society lends throughout England and Wales.
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Do you operate daily interest on Marsden mortgages?
Yes – interest on all Marsden mortgages is calculated on a daily basis. This means that your client will receive an immediate benefit for every payment made to the mortgage account, reducing the total amount of interest charged over the term of the mortgage.
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Do you pay a procuration fee?
The Society does pay a procuration fee, please click here to find out more.
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Do you take benefits/tax credits as part of income?
Some forms of tax credits can be taken, you can find out more on our Residential criteria page .
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How can I find out what mortgage rates are still available?
All rates showing on our intermediary website are currently available and can be viewed by downloading our portfolio. Please note, however, that products may be withdrawn at very short notice and until we receive the product booking fee the product cannot be reserved.
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How do I get an intermediary KFI or AIP with the Marsden?
KFI/AIP request forms can be downloaded from the Downloads page. Completed forms can be emailed to intermediaries@themarsden.co.uk.
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It’s a very low LTV… Do I still need to send payslips and I.D?
Yes – we require 3 months wage slips and the latest P60 in all cases as a minimum. Please refer to the mortgage application form which details the required documents which need enclosing with the application.
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My client is self-employed. What do you require with the application?
For self-employed applicants we require them to have been self-employed for a minimum of three years and have three years’ evidence of income. Please refer to the mortgage application form, which details all the other documents which are required with the application if your client is self-employed and looking for a mortgage.
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My clients’ current mortgage deal is coming to an end soon. When can they apply?
We can accept an application up to two months prior to their current deal expiring.
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What is the maximum loan to value you offer on Marsden mortgages?
Each lending area has different maximum loan to values. Please check the product portfolio for the maximum LTV for each product.