Mansfield BS moves into Scottish BTL market

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Mansfield Building Society has announced its launch into the Scottish buy-to-let market.

The lender will roll out its existing business buy-to-let, consumer buy-to-let and regulated family buy-to-let products to Scottish borrowers, with some postcode restrictions in place for the Scottish islands.

Borrowing is available with loan sizes ranging between £50,000 and £1 million as well as a maximum 75% LTV available across all its buy-to-let products. While expat buy-to-let is also included, the Society’s SPV limited company buy-to-let and holiday let lending is excluded.

Mansfield’s launch into the Scottish buy-to-let market follows the building society’s recent criteria enhancements which now includes flats in properties of up to 10 storeys.

Portfolio landlords with a maximum of up to 10 buy-to-let mortgages/properties with other lenders will also be considered.

Tom Denman-Molloy, the lender’s intermediary sales manager, said: “Mansfield’s launch into the Scottish buy-to-let market enables us to expand our reach and offering to include Scottish landlords who now have access to our flexible and personal lending solutions.

“Whether it’s our incredibly popular Family buy-to-let lending or supporting portfolio landlords with affordability through Top Slicing, we’re looking to add an extra dimension to buy-to-let in Scotland.”

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