Marsden Building Society has made a raft of later life mortgage criteria changes to offer “more flexibility and accessibility” to customers.
The later life mortgage criteria changes include allowing 55-plus retirement properties on the list of acceptable properties.
A referral will be required if the property is a flat or a mixed private or social housing development.
Marsden Building Society has also added foreign pension and property rental income to its acceptable income.
Attached or detached annexes are accepted across all mortgage ranges, providing the main residence is for personal use.
Properties with up to 30 acres are now accepted, providing there’s no commercial usage or agricultural tenancies or ties.
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Second homes for immediate family or personal holiday use are now accepted in its later life mortgage criteria.
Donna Barclay, head of mortgages at Marsden Building Society, said: “We’re always consulting with our broker partners to ensure we’re providing the most suitable products for their clients.
“These latest revisions reflect our commitment to providing specialist mortgage solutions in later life, which is why we’re excited to unveil our revised criteria for 2025.
“We’re confident that these updates will help to expand the support available to our brokers and their clients aged 55+.”
Marsden Building Society recently widened its expat mortgage criteria, including increased income multiples.
