Marsden Building Society mortgage review
Marsden Building Society has been providing mortgages for over 150 years and has a wide range. We've reviewed the types and features to help you decide if it's the lender for you.
There are 95% loan-to-value mortgages available for first-time buyers and specialist deals for borrowers aged over 55.
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.
London and Country Mortgage Experts
L&C is a specialist broker offering mortgage comparison & free advice.
- Compare over 80 mortgage lenders
- Fee FREE mortgage advice
- Personal customer service from start to finish
- Open 7 days a week
How do I contact Marsden Building Society?
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.
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.
Find a mortgage using a broker to compare the market
Frequently asked questions
Read more on this topic
Compare the best mortgage deals of September 2020 Everything you need to know about getting a cheap mortgage with the lowest rate and fees.
Historical price tracker: House prices, inflation and more Find out how the prices of common items in the UK have changed since 1980 in comparison to inflation.
What credit score do I need to get a mortgage? While there's no minimum credit score you'll need to be eligible for a mortgage in the UK, it's helpful to know how your credit rating can affect your chances, and the loan terms you're likely to get.
House intentions Finder reached out to the general public to see what factors play the biggest role when it comes to finding their ideal home.
Stamp duty cut: Buyers set to save thousands House buyers to benefit from a new temporary cut to stamp duty on the first £500,000 of a property sale until 31 March 2021.
Coronavirus property prices We have explored how house prices have been affected across the country during this time and how interest in renting has fluctuated in different regions.
Accelerate My Mortgage review This new cashback website will help you to shave years off your mortgage.
Finder Mortgages Customer Satisfaction Awards 2020 How did your mortgage provider fare in our latest customer survey? Find out the winner of this year's Finder Customer Satisfaction Awards.
Proportunity review Discover the pros and cons of taking out an equity loan with Proportunity.
Property flipping Our comprehensive guide to property flipping gives you all the information you need to make a profit, from finding the right property to the costs you need to consider.