CHARGE: Requested extension of Interest Only Mortgage term
Interest only mortgages… great for clients who are looking to keep their mortgage payments down with plans in the future to either downsize, transition to lifetime mortgages or have identified an alternative repayment vehicle. However, many of these borrowers are finding that as they reach the end of their mortgage, they’re not ready to downsize and finding that they are running out of options…

BAIL: Marsden lending solutions
Marsden’s lending solutions for Interest Only allow “Mortgage Prisoners” to free their cuffs by offering the following:

• Marsden Residential Mortgages –  If your client is looking for interest only products, our solutions offer interest only mortgages up to 60% LTV
• Marsden Older Borrower Mortgages –  Our Older Borrower options permit clients over the age of 55+ to continue with their interest only mortgage or switch to part and part.
• We offer downsizing as a repayment method
• We have personal underwriting which takes a tailored view on income whether employment or pension income.