Family Step mortgage
NEW product range launched whole of market today
Marsden Building Society has launched their new lending solution the ‘Family Step’ mortgage which allows your clients to get up to 100% mortgage with support from their family using a charge on either their property or savings.
Who may be looking for a Family Step mortgage?
- First Time Buyers who have no deposit or have just a little saved in the pot.
- Clients who are currently renting and are taking a step back onto the property ladder.
- Clients looking for a competitive mortgage range.
- Clients who have family members with savings or a property (with the mortgage paid off) who are willing to help.
- Clients looking for a flexible way to purchase their next or first home.
What do you need to know?
The Family Step mortgage gives buyers a helping step onto the property ladder, here’s some things you need to know…
- Available up to 100% LTV
- 3 year fixed and discount terms available from 2.54% discount and 2.69% fixed.
- Clients can get on to the property ladder without a deposit.
- Clients to reduce their monthly payments as our Family Step interest rates are lower than our conventional First Time Buyer products.
- Family members to use savings or property assets as security to support the buyer.
- 10% overpayments permitted
- No credit scoring
- Maximum loan size £350,000
- Independent legal advice required for the family supporter
For more information, get in touch with our Intermediary Support Team on 01282 440521 or click here to visit our website:
Get in touch with your BDM: j.turner@themarsden.co.uk
