The Mansfield Building Society has unveiled a Bank of England Bank Rate (BBR) tracker mortgage, priced at BBR (currently 0.50%) plus 2.75% for the whole of the mortgage term.

It is available on home purchases or remortgages up to a maximum loan of £300,000 and 75% of value inclusive of arrangement fee.

A £250 arrangement fee is added to the loan and a basic valuation/drive-by fee is refunded on completion up to a maximum of £400.

Peter Doherty, product manager at the Mansfield Building Society said: “We have introduced this new tracker product to ensure we offer intermediaries a competitive mortgage for clients wanting to take advantage of the low current Bank of England Bank Rate.