Market Harborough Building Society has updated its specialist mortgage products, including simplifying its residential range and updating its holiday let criteria to accept more complex scenarios.
Following broker feedback, the Society has streamlined its residential range for cases up to £2m and applied its tiered approach, which is priced based on complexity. The mutual believes its changes 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 (pictured), the society’s head of distribution, 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.”
Meanwhile, Market Harborough has also introduced a third tier to its expat and holiday let ranges. The new holiday let tier three caters for more complex cases including properties with six or more bedrooms, some commercial elements and properties with restricted use clauses.
In addition, the refresh includes UK buy to let cases over £1m are now part of the Society’s lower rate tier two range.
