Marsden Building Society has reduced the number of its expat residential mortgage products from seven to two.
The product line-up now has just an 80 per cent LTV loan with a three-year discount at 2.99 per cent, and a three-year fix at 3.49 per cent. Both offerings include £300 cashback for remortgages.
Marsden says that enquiries for expat residential mortgages increased by 80 per cent in July.
The move comes shortly after the lender reduced the arrangement fees on its ex-pat mortgages, from 0.75 per cent to 0.50 per cent.
Marsden general manager of operations Heather Crinion says: “The decision to do this is supported by a review of the clients we support in this market and working with the feedback we get off intermediaries too. The new simplified portfolio offers a range of expat solutions whilst making sourcing easier for intermediaries looking to support their expat clients.”
“We’re continually innovating our expat ranges to support intermediaries in their expat business, recent changes have seen introduction to expat products to all intermediaries, a re-introduction of Qatari Riyal to our accepted currencies and product portfolio changes.”