The Mansfield Building Society has relaunched its 95% discounted rate product for clients in Nottinghamshire, Derbyshire and South Yorkshire.

It has a new initial rate of 4.49% and a reduced completion fee from £600 to £300.

The Mansfield, which was among the first lenders to reintroduce a 95% facility to borrowers after the credit crunch, is a keen supporter of the local population it serves.

While the product is limited to buyers in the three counties, Mike Taylor (pictured), sales and marketing manager at The Mansfield is keen to encourage intermediaries with clients in the area.

He said: “As a local lender we value all of our customers, whether they come to us directly or through our partnership with intermediaries in England and Wales. Being a lender that prices its products exactly the same for broker business as for the direct channel, we are keen to hear from brokers with clients looking for 95% mortgages within our catchment area.

“While we are a national lender, we are proud to be a Society, which lives and breathes our support for local borrowers and savers.”