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Marsden launches intermediary-only buy-to-let deals

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  • 24/06/2015
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Marsden launches intermediary-only buy-to-let deals
Marsden Building Society has launched two landlord mortgages to be sold exclusively through Paradigm Mortgage Services.

The products are the first ever buy-to-let exclusive products to be offered to brokers by the Marsden. The society joined the lender panel of Paradigm Mortgage Services at the end of May 2015.

The products are:

A two-year discount deal currently priced at 2.99% until 31 August 2017.
A two-year fixed at 3.39%, also until 31 August 2017.

Both products are available up to 75% loan-to-value (LTV) and come with a booking fee of £399 and an arrangement fee of 0.5% of the loan amount.

The Marsden is offering free standard valuation for properties valued up to £500k, and free remortgage legals for properties up to £500k if the borrower uses the society’s nominated legal firm. Both products are fully portable, and offer the borrower the chance to make 5% annual overpayments.

Both deals revert to the Marsden’s buy-to-let standard variable rate, currently set at 6.1%.

Paradigm members earn a procuration fee of 0.5% per completion.

John Coffield, head of Paradigm Mortgage Services, said: “These are two highly competitive deals which come with both competitive rates and a range of added benefits that are bound to appeal to both our advisers and their clients. As the buy-to-let sector continues to develop it is absolutely vital that we are able to offer borrowers a range of product options and criteria that fit in with this dynamic marketplace.”

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