Marsden Building Society
Marsden Building was founded in 1860 with branches across the North West of England. They share the mutual goal with their members, “to create those special moments in life.”
The Society offers a 3 and 5-year fixed rate RIO for homeowners aged 55+ where the maximum loan is 50% of the property’s value (LTV). The loan can be used for property purchase or remortgage and the minimum loan size is £20,000. The minimum property value is £150,000.
Marsden will use your pension income to access affordability. The minimum income must be £17,500 and in the case of joint applications, both applicants must have the necessary income to repay the monthly interest repayments.
Do the high street banks offer lifetime mortgages?
The ‘big 6’ high street banks - that is Halifax, Barclays, Lloyds, HSBC, Santander and Royal Bank of Scotland (RBS) don’t currently offer lifetime mortgages or other equity release plans themselves.
Recently, Nationwide entered the lifetime mortgage market but instead of offering its own range of plans, it refers its members to Pure Retirement
Call us anytime
We understand that with different options to choose from, it can be difficult to find the right home
reversion plan provider for you. That’s why our team of expert and impartial advisers are on hand to answer
all your questions and find the right solution for you.
It costs nothing to give us a call and the first and only person you’ll speak to is your local adviser. That’s because we don’t have call centres. Just highly qualified and experienced advisers ready to help you.