The Mansfield Building Society has launched three new buy-to-let deals up to 70% loan to value (LTV).

The purchase only deal is priced at 2.65% discounted rate for two years (2.94% below SVR), with a free basic valuation, application fee of £199 and completion fee of £999.

There are two remortgage options with different rates:

Buy-to-let remortgage with lower rate and higher completion fee:

• 2.65% discounted rate for 2 years (2.94% below SVR)
• Application fee £199 and completion fee £1,300

Buy-to-let remortgage with higher rate and lower completion fee:-

• 2.99% discounted rate for 2 years (2.60% below SVR)
• Application fee £199 and completion fee of £300

Customers will get free legal fees as well as a free basic valuation on both remortgage products.

Stuart Bryce, business development manager at the Mansfield, said: “The three new mortgages are very competitively priced and aimed at being a market leading discounted rate product to offer a viable alternative to fixed rates.

“Brokers and customers are understandably cautious about potential rate rises, discounted variable rate products are linked to lenders Standard Variable Rate (SVR) and do not directly track the Bank of England Base Rate.

“At The Mansfield, we remain committed to providing a very attractive range of products in this important market.”