The range offers increased flexibility around affordability and eligibility criteria at the start of a mortgage for young and newly qualified professionals.
Steve Robinson, Head of Lending at Marsden Building Society, said:
“We find that many young professionals experience a difficulty from the high street lenders in securing mortgages. The Society factors in guaranteed incremental salary scales for each profession in order to provide a flexible approach to affordability models.
“The Society’s mortgage portfolio will be available to a range of professions giving them an opportunity to secure housing suitable for their needs and lifestyle. Marsden Building Society is delighted to be one of the few lenders supporting this market and further demonstrating our innovative product development and response to market demand."
John Coffield, Head of Paradigm Mortgage Services, commented:
"At Paradigm we have recognised the need for lenders to serve different segments of the market as, clearly, one size does not fit all. With this product portfolio the Marsden Building Society recognises the requirements of young professionals who are trying to gain a foothold on the housing ladder and, as such, has criteria which will serve this sector. Our members will welcome the flexibility and affordability models this product brings, along with charges that are reasonable and fair.
"It is particularly pleasing to be working with the Marsden Building Society on this semi-exclusive product – a mutual which is often at the forefront of product design and is increasingly committed to the intermediary sector. Our expectation is that members will warmly embrace such a product and we will be delivering further exclusive and semi-exclusive products over the course of the year."
Heather Crinion, General Manager (Operations), added:
"We are looking forward to launching this product portfolio with Paradigm, after feedback from their members it is clear that this is a market that they have a demand for and we are delighted to be launching semi-exclusively with them, continuing a partnership that has worked well up to date.”
