Market Harborough Building Society has announced two key changes to its product range to make it even easier for brokers to place clients’ cases. The specialist lender has introduced a dedicated range of tiered larger loan deals – now available for residential applications up to £5m.
Speaking about the latest enhancements, Head of Mortgage Distribution Iain Smith commented “We promised to keep listening to brokers and taking action to support them. As a high net worth client specialist, our new simplified larger loan deals will help brokers source deals up to £5m. And our move to accept cases up to 80% LTV provides them with further flexibility across our residential and let ranges.
Our tiered products are priced based on the level of case complexity and are designed to help brokers easily find the right product and price for their clients, including those with more challenging circumstances.”
The Society’s new large loan range starts with rates from 6.29% for a five year fixed rate and a new fixed product fee of £2,495.
This news follows soon after the lender announced it had loosened income criteria to help clients achieve maximum affordability, including:
- Earned income considered up to age 75
- 100% of an applicant’s income from their second job accepted
- On sale and downsize interest only cases, they’ll lend up to a maximum 75% LTV. Minimum equity applies.
Market Harborough is one of the fastest-growing building societies, with several recent award wins under its belt including being named a Feefo Platinum Trusted Service Award winner and being recognised for its short-term lending. The Society specialises in providing mortgage solutions for complex cases and offers a range of products for expats, high net worth individuals and both buy to let and holiday let investors. More information about the specialist lender can be found by calling 01858 412345 or visiting www.mhbs.co.uk/intermediaries
