Market Harborough Building Society simplifies residential mortgages and updates holiday let criteria – The Intermediary
Market Harborough Building Society has refreshed its specialist mortgage products, including simplifying its residential range and updating its holiday let criteria to accept more complex scenarios.
In response to broker feedback, the society streamlined its residential range for cases up to £2m and applied its tiered approach, priced based on complexity.
These changes were implemented to make it easier for brokers to find the right product for their clients’ complex cases.
The residential range has a set product fee of £1,495 and now accepts multi-generation scenarios as standard under tier one.
Iain Smith, head of distribution at Market Harborough, said: “Our broker partners told us they liked our tiered structure to help them select the right product for their clients’ more complex cases.
“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 also introduced a third tier to its expat and holiday let ranges, catering for properties with six or more bedrooms, some commercial elements, or properties with restricted use clauses.
The refresh also included UK buy-to-let (BTL) cases over £1m becoming part of the society’s lower rate tier two range.
