After introducing a 95% discounted rate mortgage in its local area of Nottinghamshire, Derbyshire and South Yorkshire, The Mansfield Building Society has opened the product up to brokers and customers across England and Wales.

The deal is a three-year discount at 4.49%, available at an LTV over 80% and up to 95%.

It is available for purchase only and the basic valuation fee is refunded up to £400.

Mike Taylor (pictured), sales and marketing manager at The Mansfield, said that the Society has been a long supporter of first-time buyers and those returning to the housing market.

He said: “The Mansfield was among the first lenders to reintroduce a 95% facility to borrowers after the credit crunch and has consistently supported first time buyers.

“By extending this product across the country after the successful trial in our local heartland, we wanted to send a message to our intermediary partners and the wider population that The Mansfield stands ready to support first time home owners.”