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Marsden BS cuts buy-to-let rates by 1.25% and introduces top-slicing

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  • 18/06/2018
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Marsden BS cuts buy-to-let rates by 1.25% and introduces top-slicing
Marsden Building Society has cut rates on its buy-to-let range of mortgage products by up to 125 basis points and added a top-slicing option.

 

The top-slicing option will allow landlords’ earned income to top-up rental income for remortgage business, as it said it is seeing record demands for remortgaging by landlords.

Marsden is introducing two-year discount products at 65% and 75% loan to value (LTV) at 1.79% and 1.89% respectively.

For remortgaging, there is also a two-year discount product at 2.49% with a £299 booking fee but no arrangement fees.

Earlier this month the lender extended its expat buy-to-let products to the whole of the broker market.

 

Extended end dates

Marsden BS head of lending Steve Robinson (pictured) said: “We work closely with our intermediary partners to understand what they need to support their clients.

“We are always reviewing our lending solutions to ensure we’re delivering on our products, criteria and service support for intermediaries and their clients.

“Alongside this, our buy-to-let positioning is strengthened with competitive products reducing our existing pricing by 125bps as well as developing our criteria to allow earned income to top up the rental income for remortgage business,” he added.

The lender has also extended end dates across its mortgage products, with several moving from summer months to October or November.

 

 

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