MortgagesJun 7 2018

Marsden Building Society expands expat offering

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Marsden Building Society expands expat offering

The Marsden Building Society has widened its lending solutions so intermediaries have access to its expat proposition.

The move means more intermediaries have access to Marsden’s Expat Buy-to-Let (BTL) product range, which offers four discount rate products from 2.89 per cent.

A selection of two and three-year products are available with an up to 75 per cent loan-to-value (LTV) on interest only or repayment. Products are available for a loan size up to £750,000 with 5 per cent overpayments.

 A wider range of five products are available in the Expat Residential range with two-year products starting at 2.79 per cent for 60 per cent LTV and 3.29 per cent for up to 80 per cent LTV.

Steve Robinson, head of lending at the Marsden said: "Our focus is to provide a wide range of lending solutions for intermediaries.

"For us, expat lending has always been something that intermediaries and their clients needed and increasing the access for them is important to ensure they’re able to offer more choice in their mortgage solutions.

"Over 5.5 million British people live permanently abroad and whether they’re looking to maintain a level of income through a BTL or support their family in a residential mortgage- we offer tailored expat lending solutions."

Martin Stewart, director at London Money, said: "It is good to see Marsden not only opening up its distribution channels but also supporting the ex-pat sector which was hit very hard at the onset of the financial crisis with bey few lenders staying in the market. Hopefully this will drive more lenders to reconsider their position on lending to ex-pats and more competition will see rates becoming more competitive."