Marsden Building Society Flexible Mortgage

Marsden Building Society Flexible Mortgage | Expert Review

Marsden Building Society Lender Logo Marsden Building Society has a number of flexible mortgage options. The first Marsden building society flexible mortgage is a discounted tracker mortgage, which is at the same rate as the Bank of England base rate until November 2008, after which it reverts to the building society's standard variable rate (currently 2.04 per cent above the base rate) for the life of the mortgage. The overall cost for comparison is 6.6 per cent APR.

The second Marsden building society flexible mortgage is a lifetime tracker mortgage, which is 0.35 per cent above the base rate for the life of the mortgage. The overall cost for comparison is 6.6 per cent APR. There is an arrangement fee of £299 and a booking fee of £100. The valuation is free and the mortgage is portable. Overpayments of any amount are permitted without penalty, and there are no early repayment charges. A higher lending charge is payable over 80 per cent loan to value.

There are also two fixed rate Marsden flexible mortgages. The first is a fixed rate of 5.09 per cent till 2011, which reverts to the standard variable rate at the end of that time. The second is fixed at the same rate until 2016. APRs are 6.2 per cent and 5.7 per cent respectively. There is a free valuation for properties under £500,000, but an arrangement fee of £399 and a booking fee of £100. Overpayments of up to 5 per cent a year are permitted without penalty, though there will be early repayment charges in the fixed rate period. A higher lending charge is payable over 80 per cent loan to value.

Discounted Flexible Tracker Mortgages

Another Marsden building society flexible mortgage option is a discounted variable rate, which offers a 1.95 per cent discount off the society's standard variable rate until November 2008. Overpayments of any amount are permitted without penalty, and there are no early repayment charges. A higher lending charge is payable over 80 per cent loan to value. There is an arrangement fee of £299 and a booking fee of £100. The valuation is free for properties under £500,000.

Marsden's standard variable rate mortgage also has flexible features, allowing overpayment without penalty, with no early repayment charges. There is a £199 arrangement fee and the APR is 7.1 per cent. There is also a cashback variable ratetracker, with the rate set at 1.1 per cent above the base rate until 2011, before reverting to the standard variable rate. The APR is 6.6 per cent. Overpayments of up to 5 per cent a year are permitted without penalty, though there will be early repayment charges in the discounted rate period. There is an arrangement fee of £399 and a booking fee of £100.

Another Marsden building society flexible mortgage is the capped variable rate tracker. This is 0.49 per cent above the base rate until 2011, before reverting to the standard variable rate. This gives an APR of 6.3 per cent. Overpayments of up to 5 per cent a year are permitted without penalty, though there will be early repayment charges in the discounted rate period. There is an arrangement fee of £399 and a booking fee of £100. Marsden also has two buy to let tracker deals with flexible features at 6.5 to 6.7 per cent APR*.

However, please note that The Offset Mortgage Centre cannot advise on or arrange mortgages from the Marsden Building Society.

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