The Mansfield Building Society has introduced new products across the buy-to-let, residential and shared ownership sectors.
The mutual has improved its fixed rate mortgages on a two-year term basis across the three sectors, and launched new discounted rate products in the residential sector, including a product available to age 80.
Changes include the follow:
Residential
Available to age 70:
- 2 year fixed to 95% LTV at 4.69% house purchase only, max loan size £200k
- 2 year discounted rate to 85% LTV at 2.45% (3.14% below SVR) remortgage only, max loan size £350k
Available to age 80:
- 3 year discounted rate to 60% LTV at 3.99% (1.60% below SVR), max loan size £300k
Buy-to-let
- 2 year fixed rate up to 70% LTV reduced to 3.49% from 3.99%
Shared Ownership
- 2 year fixed rate 95% share (75% property value) at 4.99%. Purchase only
Stuart Bryce, business development manager at The Mansfield, said: “At The Mansfield we want intermediaries to have good quality mortgages for key market segments.
In the residential sector, we have a competitively positioned fixed rate mortgage suitable for first-time buyers. We’re also supporting older applicants with a product available to age 80.
“Shared Ownership applicants with us can now benefit from purchasing up to 75% of the property value on a mortgage up to 95% of the share.
“Our buy-to-let range has been further strengthened with the improved fixed rate as intermediaries and landlords recognise the benefit of our manual underwriting.
“2015 will see opportunities for the broker community to provide customers with advice on a wide range of enquiries. For customers with particular needs, which are not being accommodated by mainstream lenders, The Mansfield offers a competitive portfolio.”
