The Mansfield Building Society has unveiled new two-year discounted buy-to-let products for purchase and remortgage.
It has also introduced a rental calculator, which is available to all introducers on the Society’s website.
Main Features include:
- 2.99% payment rate, based on a 2.6% discount from the current SVR for two years
- Maximum 70% LTV
- Free valuation on remortgage
- Free legal fees (nominated solicitor) on remortgage
- Minimum loan size £50,000
- Maximum loan size £300,000 (single property) £500,000 with multiple applications
- New rental calculator
- Rental income now based on 130% of notional rate of 5%
Mike Taylor (pictured), sales and marketing manager at The Mansfield, said: “We have kept a close eye on developments in this important business channel and have responded with purchase and remortgage products offering great value to landlords.
“On the remortgage side we are offering a free a valuation and legal fees package, which not only simplifies the process but also reduces the costs of the transaction, particularly for landlords with multiple properties. On top of that we are making it easier for advisers to calculate rental income support with our new rental calculator.
“The fact that we are passionate believers in the supremacy of individual underwriting by highly experienced specialists has not been lost on our intermediary introducers and their clients. Our new buy-to-let offering allied to human underwriting makes a great combination for advisers and their clients.”
