Mansfield Building Society has doubled its maximum loan sizes across both buy-to-let and residential lending, to meet growing demand for larger loans amid rising property values across the UK.

From today, the mutual will offer loans of up to £1 million on both buy-to-let and residential mortgages up to 80% loan-to-value (LTV), a substantial increase from the previous £500,000 limit.

For residential lending at higher LTV bands, Mansfield has also raised its maximums: loans between 80% and 90% LTV can now reach £750,000, up from £500,000, while loans between 90% and 95% LTV can go up to £500,000, increased from £350,000.

At the lower end of the LTV scale, residential borrowers seeking up to 65% LTV can now access loans up to £2 million.

The enhancements are intended to strengthen the society’s proposition for intermediaries and borrowers seeking larger loan sizes who may not fit standard credit scoring models.

Mansfield says the changes align with its manual underwriting approach, which enables it to take a more flexible view of complex or non-standard cases.

Tom Denman-Molloy, intermediary sales manager at Mansfield Building Society, said: “With property prices increasing and subject to regional hotspots, we’re increasing our maximum loan sizes to extend the appeal of our flexible lending approach.

“Borrowers in areas of high property prices can now benefit from our extensive criteria, including capital raising and debt consolidation, a more accommodating attitude to historic credit blips, and much more.

“Our lending also works well with non-standard property types, such as properties with annexes, large acreages or with agricultural ties.

“We want to give brokers more opportunities to provide solutions for their clients with large loans.”