Marsden Building Society has made further changes to its retirement interest only (RIO) mortgage products, adding free valuations for all cases and fee assisted legals for remortgage cases.
These updates follow earlier changes, including accepting 55 plus retirement properties, subject to referral for flats or mixed private/social developments, along with second homes for family members and large acreage properties.
Katie Broome, product manager at Marsden Building Society, said: “We understand the increasing need for flexible and affordable solutions that support those who require a mortgage in later life.
“Whether they’re taking out a mortgage to release equity or to help a family member get onto the property ladder, we work closely with our broker partners to better understand the needs of our borrowers.
“We hope that these extra additions will help make a RIO mortgage more accessible for clients.”
