Compare Marsden mortgages
To find the right mortgage for you, you need a good understanding of what the available options are. The Marsden offer several different kinds of mortgages which may offer a match for your personal requirements.
Fixed rate mortgages
Customers who like to plan ahead carefully may benefit from a fixed rate mortgage. This means that the first few years of interest payments on your mortgage will stay at a set level, agreed in advance. This means you can budget for your monthly repayments, allowing you some stability during your first few years in your new property.
After the introductory fixed rate period your mortgage will switch to a standard variable rate (SVR).
Discount rate mortgages
One alternative to a fixed rate mortgage is a discount rate mortgage. This comes with a variable interest rate, but this will be set at a lower rate than the standard variable rate for an introductory period. After this the interest with revert to the SVR.
Remortgaging with Marsden Building Society
You may be able to increase your borrowing or reduce you monthly repayments by switching an existing mortgage to Marsden Building Society. If you can secure a better interest rate or agree a higher mortgage, you can end up with lower monthly costs or a lump sum left over once your old mortgage is paid off.
Second charge mortgages
Instead of remortgaging, some customers may benefit more from taking out a second, entirely separate secured loan on their property.
This can allow you to access extra funds without interfering with your existing mortgage. This may be a good option if you already have a good deal on your mortgage.
Loan to value ratio
Loan to value (LTV) ratio is one of the most important considerations for mortgage providers when deciding how much they are willing to lend to individual customers.
LTV is a way of showing how much a customer wants to borrow relative to the market value of the property in question.
For example, you would have an LTV of 50% if you wanted to borrow £50,000 against a £100,000 house or flat. LTV looks at both existing and prospective debt, so if you want to borrow more on top of an existing mortgage the value of both would be considered.
Find the best deals on mortgage rates
The best way to get a good deal on your mortgage is to make sure you compare lots of different products from various providers.
This can allow you to see which is offering the best interest rates and other features on a mortgage that matches your borrowing needs.
Our mortgage calculator makes this quick and easy to achieve by showing you top deals from across the mortgage industry.
All you have to do is scroll to the top of the page and put in some basic information about your borrowing needs. We will then match you up with appropriate deals for you to choose from.
Independent Mortgage Advice
Remortgaging is particularly popular at the moment as interest rates are low.
Whether it will be a good idea for you to remortgage depends on a number of factors, including your goals and your personal circumstances.
However, in general, if interest rates are lower than you are currently paying on your mortgage, it may be a good time to remortgage.
If interest rate are higher than you are currently paying, it may be better to look at other options, such as a second mortgage or a personal loan (if you aim is to borrow more).
If you are not sure whether now is the right time to remortgage, it is a good idea to speak to an independent mortgage broker who will be able to offer impartial advice on Marsden mortgage products and other lender options.