The Marsden Building Society has introduced several changes to its late mortgage standards, including more than 55 additional property types and a second home.
These latest changes are intended to provide more flexibility and accessibility to later clients.
Updates include: Retirement properties over the age of 55 are listed on the list of acceptable properties (referral is required if the property is flat or mixed private/social housing development).
Foreign pension and real estate rental income have been added to Marsden's acceptable income list.
Attached or separated appendixes are accepted across all mortgage ranges, with the primary residence being for personal use.
Up to 30 acres of real estate are currently accepted, with no commercial use or farming tenants or bonds.
A second home for family and individual holiday use is now accepted.
“We've got a lot of money to help you,” commented Donna Barclay, Mortgage Director at Marsden Building Society. These latest revisions reflect our commitment to providing expert mortgage solutions in the later period, and we are excited to announce the revised standards for 2025. ”