Mansfield Building Society has added new Versatility products to its offering.
It is launching two new two-year discounted variable rate products with reductions of up to 0.24 percentage points.
BLIPS ALLOWED
The Versatility range includes products for borrowers with complex circumstances, such as non-standard incomes, historic credit blips, and unusual property types.
The products offer affordable mortgage options across two tiers of complexity – Versatility and Versatility Plus.
Mansfield’s latest Versatility product is available for LTVs over 80% and up to 85%, with a discounted variable rate of 6.40%. The new rate is a reduction of 0.24 percentage points against its previous offering and is a 0.39% saving compared to its current equivalent fixed rate of 6.79%.
“These competitive rates mean substantial monthly savings”
The Versatility Plus product is available up to 80% LTV at a reduced variable rate of 5.95%, down 0.19 percentage points from the previous 6.14% rate, and providing a 0.44 percentage point saving compared to the mutual’s current equivalent fixed rate of 6.39%.
Tom Denman-Molloy, the Mansfield’s intermediary sales manager. said: “We’re pleased to update our Versatility range with lower discounted variable rates, bringing our customers more affordability alongside our accommodating criteria.
“These competitive rates mean substantial monthly savings, which is crucial for many borrowers right now.
“These updates demonstrate that we are responsive to market changes and supporting both brokers and borrowers with mortgage products that improve affordability and offer sustainable choices.”
