Positive Lending has added Marsden Building Society’s older borrower products to its lending portfolio.
Intermediaries who work with Positive Lending will get access to Marsden’s older borrower range which offers a conventional mortgage option for clients aged more than 55.
The society has just recently launched 28 new older borrower products.
The loans are underwritten on pension, earned and investment income.
If the loan is interest-only, affordability is stress tested.
Marsden will accept up to 25 per cent of total income generated from buy-to-let property.
Positive Lending director of mortgages Stephanie Charman says: “With the growing need for later life lending options, adding Marsden’s older borrower product range to our proposition enables us to provide comprehensive solutions for advisers.”
Marsden general manager (operations) Heather Crinion says: “Our teams individually underwrite each case ensuring a common sense approach is taken for every case.
“We also encourage advisors to get in touch should they be facing difficulty with a case for an older borrower as we will always go the extra mile to see if we can support.”