Last month the Marsden launched a range of Shared Ownership products to support borrowers looking to take advantage of ‘part buy – part rent’ home ownership.
Designed to support households earning £80,000 a year or less (£90,000 a year or less in London), Shared Ownership could be suitable for your clients who are first-time buyers and can’t find a suitable home on the open market, or who used to own a home but can’t afford to buy one now.
What Marsden can offer…
The Marsden’s Shared Ownership range offers discount and fixed rate products for purchase only.
Key criteria
- Up to 75% borrower share available;
- Minimum loan size £30,000;
- Maximum loan size £375,000;
- Available for purchases only on a repayment basis;
- Houses only (no flats);
- Minimum income of £17,500 per application;
- Maximum income of £80,000 (£90,000 in London) per application;
- Mortgage payment and rent must be affordable to applicant(s).
“We’re pleased to be able to help more people onto the property ladder through our Shared Ownership range” said Katie Broome, Product and Intermediary Account Manager at the Marsden.
“We’ve been helping people to own their own homes for over 160 years so Shared Ownership is a great way for us to support those looking to own a share of a property, on the pathway to full home ownership.”
You can find out more about the Marsden and their new Shared Ownership range by visiting their website where you’ll be able to view product rates, access criteria and submit applications, or you can get in touch with their dedicated Intermediary Support Team on 01282 440583*.
