New mortgage lender looks to bring more options to Guernsey

Wednesday 22 August 2018

Marsden Building Society - a company based in Lancashire - have partnered with local mortgage advisers SPF Private Clients to bring people a new range of mortgage offerings.

The two parties have worked together to develop three lending solutions that they will now offer to customers on island.

Those three options are an interest only residential mortgage of up to £750,000, a larger loan mortgage of up to £1m., and a 55+ pensioner mortgage scheme. The Marsden is offering interest only options for Guernsey customers across all its mortgage solutions.

"We’re delighted to be able to widen the choice of mortgages available for Guernsey customers through our mortgage solutions. We’ve been working closely with SPF to ensure that our products reflect the needs of Guernsey customers. All of our mortgages can be accessed through the SPF team from today, and we look forward to working with them as our partner on island and to become an established lender in Guernsey," Rob Pheasey, Chief Executive of the Marsden Building Society, said.

The residential mortgage scheme of up to £750,000 will be on an interest only basis, or with repayment on three and five-year product terms, with interest rates from 2.29%. 

SPF Private Clients also said it identified a customer need for larger loans, and so has developed a range of larger mortgages for customers looking to borrow up to £1m., which are available on an interest only basis to a maximum loan to value of 65%.

Finally, the Marsden’s 55+ mortgage range will allow customers to take a mortgage in retirement up to the value of £750,000 on an interest only or repayment basis. Having launched their later life mortgages in the UK in 2014 and with over four years of specialist lending experience for customers over the age of 55, the Society said it was confident its mortgage solutions will meet the needs of the Guernsey market, supporting remortgage or those looking to borrow for a variety of reasons. 

Pictured: Some of the Marsden Society's UK rates from their website.

Mr Pheasey continued: "We have spent two years evaluating the island and are committed to being one of Guernsey’s top mortgage providers helping borrowers with mortgage solutions.

"We enter the island with a wide range of product options and in the coming months are working on more mortgage ranges we can deliver into Guernsey to give residents more options when it comes to selecting their mortgage.” 

Pierre Blampied, Managing Director of SPF Private Clients, added: “We have been working closely with The Marsden over the past two years to understand their products and their mortgage journey for a Guernsey customer, and are looking forward to introducing our clients to their wide product range. SPF are once again the only mortgage advisors with full access to every lender on the island, which gives customers a full range of product options when they speak to a member of our team.”

For more information about Marsden Building Society, their partnership with SPF Private Clients or for the products that are available to customers, visit their dedicated Guernsey page at themarsden.co.uk/guernsey or speak to a member of the SPF team on 01481 715234.