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Marsden BS and TSB refresh product ranges – roundup

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  • 04/02/2019
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Marsden BS and TSB refresh product ranges – roundup
Marsden Building Society and TSB have both updated their product portfolios.

 

Marsden BS has added new products across its expat, older borrower, retirement interest-only (RIO) and residential ranges.

It has also launched new products, including a five-year fixed expat buy-to-let product.

Steve Robinson, head of lending at the Marsden (pictured), said: “ Following feedback from brokers looking for an alternative to bridging, we have introduced a product with a maximum of a two-year product term on interest only and has no early repayment charges which is available up to 60% loan to value (LTV).

“We were finding many intermediaries looking for options for their clients who are in the process of buying and potentially need a short-term mortgage.

“This is a new initiative that we are trialing in the market and welcome feedback from brokers and their clients.”

 

TSB

TSB has cut mortgage rates by up to 0.1% on its five-year fixed rate mortgages, for both residential and remortgage borrowers.

It has also reduced the five-year fixed house purchase from 75% to 85% loan to value (LTV) by 0.05%, while the five-year fixed remortgage up to 60% LTV has been reduced by 0.1%.

The bank has also increased the rate on its two-year fixed house purchase mortgage from 85% to 90% LTV, with £995 fee, by 0.2%.

Nick Smith, TSB’s head of mortgages, said: “We are seeing more and more of our borrowers fixing for a longer period, so these rate reductions will be very welcome for many of our borrowers.”

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