Changes include simplifying the residential range and applying tiered pricing
Market Harborough Building Society has updated its mortgage offerings, focusing on enhancing its specialist products based on feedback from brokers.
The product refresh includes a more streamlined residential mortgage range designed for cases up to £2 million, with the mutual introducing a tiered pricing strategy based on the complexity of the case and all options featuring a fixed product fee of £1,495.
The structured approach now routinely incorporates multi-generational living arrangements under its first tier, highlighting a shift towards accommodating more diverse family needs.
📢Brokers, you told us that you liked our tiered structure to help you price your complex cases, so we’ve expanded this across our residential range. We now accept cases up to £2m across three tiers to cover your simple to complex cases.
— Market Harborough BS (@MarketHarbBS) May 10, 2024
Find out more👉https://t.co/twtW94lW1n pic.twitter.com/UyYsePRlEN
“Our broker partners told us they liked our tiered structure to help them select the right product for their clients’ more complex cases,” said Iain Smith (pictured), head of distribution at Market Harborough Building Society. “We’re happy to broaden this approach and to simplify our residential range at the same time.
“We continue to listen to brokers and make it even easier to work with us as we drive to become the specialist lender of choice and make decisions that are best for brokers and their clients.”
Market Harborough has also broadened its offerings for expats and holiday lets by introducing a third tier specifically for more complex cases. This new tier accommodates properties with six or more bedrooms, those with partial commercial usage, and properties subject to restricted use clauses, thereby catering to a wider range of investment opportunities.
The changes also bring positive developments for UK buy-to-let investors, with high-value properties over £1 million now qualifying for the society’s lower rate tier two.
These updates are detailed further in Market Harborough’s latest product guide, which is accessible online for brokers seeking more information on the new mortgage options available.
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