Marsden Building Society has been providing mortgages in the UK since 1860. Its current range includes fixed-rate, discount and buy-to-let mortgages.
There are 95% loan-to-value mortgages available for first-time buyers and specialist deals for borrowers aged over 55.
Compare Marsden Building Society’s mortgage rates
Marsden Building Society’s buy-to-let mortgage rates
Overall representative example
If you borrow £178,000 mortgage over 25 years initially at 4.49% fixed for 60 months reverting to 7.99% variable for term. 60 monthly payments of £988.37 and 240 monthly payments of £1306.89. Total amount payable £373,335.80 includes loan amount, interest of £194,956, valuation fees of £0 and product fees of £0. The overall cost for comparison is 6.7% APRC representative.
Think carefully before securing debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage.
What types of mortgage does Marsden Building Society provide?
- Fixed-rate mortgages. Marsden Building Society offers two types of two-year fixed-rate mortgage. It’s low-rate product comes with a mortgage fee based on a percentage of your deposit. Its no-fee product has a higher rate. To choose your best option, calculate the overall cost of the deal over the initial two years. The maximum loan-to-value is 95%, so this deal may appeal to first-time buyers with small deposits. After the first two years, you’ll be switched onto the lender’s standard variable rate.
- Discount mortgages. These mortgages offer a rate fixed at a certain percentage below the lender’s standard variable rate for either two or three years. The maximum loan-to-value is 90%. There are no fees attached to any of these products. After the discount period ends, you’ll be switched onto the lender’s standard variable rate.
- 55+ mortgages. Marsden Building Society has special mortgage deals for those aged 55 or older. These customers can choose between two-year or three-year fixed-rate or discount mortgages. The maximum loan-to-value is 60%. These products all come with a fee attached. To be eligible for these, you have to be at least 55 years old when applying and no older than 91 when the term comes to an end.
- Buy-to-let mortgages. The lender offers buy-to-let mortgages to expats via its intermediaries. Expats can choose between two-year or three-year discount mortgages. There is a booking fee and an arrangement fee attached to these deals, although you may be eligible for cashback too.
- Interest-only mortgages. Many of these deals are available on an interest-only basis, albeit with a smaller maximum loan-to-value.
For queries on existing applications or completed mortgages, call 01282 440583. Phone lines are open on weekdays between 9am and 5pm and on Saturdays between 9am and 12 noon.
How do I apply for a Marsden Building Society mortgage?
You can apply for a Marsden Building Society mortgage by calling 01282 440500.
The lender’s mortgage experts will be able to give you more information about its products, guide you through the application and hopefully offer an agreement in principle.
You’ll need to provide basic personal details, plus details about your income and outgoings, so make sure you have this information to hand.
Approval will be based on a credit check.
What information do I need to provide?
You’ll need to provide proof of identity, proof of address and various documents to prove your income and outgoings. This could include payslips and previous bank accounts.
Eligibility criteria
To be considered for a Marsden Building Society mortgage, you must:
- Be at least 21 years old
- Have been a UK resident for at least two years
- Secure the mortgage against a property in England or Wales valued at £100,000 or more
- Have incurred no county court judgements (CCJs) or defaults within the previous three years
- Have suffered no bankruptcies, individual voluntary arrangements, debt management plans or repossessions
First charge mortgage loans can be between £20,000 and £425,000 depending on your circumstances. Mortgage terms range between five and 35 years.
Frequently asked questions
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