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      Marsden BS Launches 100% LTV

      Marsden Building Society is launching its Family Step mortgage for first-time buyers to the entire intermediary market.


      The range allows first-time buyers to borrow 100% LTV with no need for a deposit and access to rates lower than the usual 90-95% LTV, using support from family through savings or property.

      Heather Crinion, general manager (operations) at Marsden Building Society, said: “There’s a growing appetite for customers wanting to get onto the property ladder, with a reduction in rental properties available in the buy-to-let market and increasing house prices the market demand is there.

      "However, with the increasing property and rental prices the challenge for first-time buyers to raise a deposit grows alongside it. We’ve developed our Family Step range to offer support for customers going through this process where the Bank of Mum and Dad or other family members can help support them using savings or property.

      “The product range has had a great reaction so far and we continue to work with intermediaries and their clients to get feedback on the steps they go through to support this range ensuring intermediaries, their clients and the family supporters have all the information they need.”

      Source - Financial reporter 09/10/18

      Categories: Mortgages


      Essex Home Finance Ltd is an Appointed Representative of Mortgage Intelligence Ltd which is authorised and regulated by the Financial Conduct Authority under number 305330 in respect of mortgage, insurance and consumer credit mediation activities only.

      Registered address: 1 High Street, Chelmsford, Essex, CM1 1BE. Registered in England & Wales under number 10607263.

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      Association of Mortgage Intermediaires

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