The first product is available up to 80% loan-to-value and offers an initial pay rate of 2.49% (3.46% discount off variable rate currently 5.95%). The second product is available up to 85% loan-to-value and offers an initial pay rate of 3.39% (2.56% discount off variable rate currently 5.95%). The initial discounted period is applicable until 31st October 2015.
The products are available for purchase and remortgage clients and both offer no up-front arrangement or booking fees, no completion fees and a free standard valuation for properties up to £500,000. They also include free legal fees for remortgages.
Robert McCoy, senior product and communications manager at Sesame Bankhall Group, said:
Marsden Building Society has a proven track record as a high-quality mortgage lender. Together with the attractive incentives offered on these products, should a property be downvalued and the loan-to-value exceeds 80%, there is a further fees free option available that enables clients to swap onto the 85% loan-to-value product with no switching fee.
Heather Crinion, Head of Operations at Marsden Building Society said,
The two new fees free exclusives provide a further demonstration of the Marsden's commitment to the intermediary marketplace. Our service through 'marsden for intermediaries' is delivered by a dedicated team of underwriters and packagers, enabling the Society to deliver an effective and at times bespoke lending service, with product and criteria enquiries answered directly by the team that are managing the cases submitted. Having previously worked successfully with Sesame Bankhall Group, we are delighted to have the opportunity to work together again.