These are the first ever buy-to-let exclusive products to be offered to the intermediary community by the Marsden.
The products available include a two-year discount 75% LTV buy-to-let mortgage, currently priced at 2.99% until the 31st August 2017, and a two-year fixed 75% LTV buy-to-let mortgage, priced at 3.39%, again until the 31st August 2017.
Both products revert to the buy-to-let standard variable rate, currently set at 6.1% and come with a booking fee of £399 and an arrangement fee of 0.5% of the advance. Both also include free standard valuation for properties valued up to £500k, free remortgage legals again available for properties valued up to £500k when using the Marsden’s nominated legal firm, all products are fully portable, and offer the borrower the chance to make 5% annual overpayments.
Both products are available to Paradigm members with a procuration fee of 0.5%.
John Coffield, Head of Paradigm Mortgage Services, commented:
“This is a real coup for Paradigm and our members as these are the first ever buy-to-let exclusive products launched by the Marsden. We know that our firms conduct a higher than average percentage of buy-to-let business than the overall intermediary sector and therefore this is the perfect fit for the Marsden, Paradigm as the distributor, and our adviser members. These are two highly competitive deals which come with both competitive rates and a range of added benefits that are bound to appeal to both our advisers and their clients. As the buy-to-let sector continues to develop, it is absolutely vital that we are able to offer borrowers a range of product options and criteria that fit in with this dynamic marketplace. We are sure these exclusive products will be highly appealing to all our members and we welcome Marsden’s choice of Paradigm as the go-to distributor to launch what is a first for them in the marketplace.”
Heather Crinion, Head of Operations at Marsden Building Society, said:
“We are delighted to launch our new buy-to-let products exclusively to Paradigm and its members. Our products are competitive, have great incentives and are delivered by our award-winning customer service team who look forward to assisting Paradigm members with enquiries and future applications.”
