Mansfield Building Society has reinstated its 90% loan-to-value (LTV) cap for debt consolidation cases to help borrowers seeking to remortgage to manage their finances more effectively.

The return to 90% LTV for debt consolidation will enable homeowners to access a greater portion of their property’s value when seeking to consolidate debts, addressing a key challenge in the current cost-of-living climate. It follows a growing recognition that mainstream lenders often exclude borrowers with more complex needs.

In a further development, gifted deposits are now accepted for credit repair cases, making it easier for families to assist relatives in securing a mortgage—even where there have been historic credit issues. This change reflects a more holistic approach to affordability and family-led financial support.

Tom Denman-Molloy (pictured), intermediary sales manager at Mansfield Building Society, said the lender remains focused on supporting those who might otherwise fall outside traditional lending criteria.

“Improving access to mortgage finance remains a core focus for us, particularly in areas where borrowers can often find themselves excluded by mainstream criteria,” he said.

“These latest updates are designed to offer greater flexibility on cases such as debt consolidation, credit repair, and later life lending. These criteria enhancements give advisers additional ways to secure good outcomes for clients who may not tick the traditional boxes but still represent common sense lending opportunities.”

Other updates to lending policy include the removal of the maximum age limit for buy-to-let borrowers. This reflects the long-term investment nature of such properties and brings the Society into closer alignment with other lenders who have eased later-life lending restrictions.

In addition, downsizing criteria have been standardised nationwide. Mansfield will now require a minimum equity of £200,000 regardless of where the property is located, bringing clarity and consistency to its approach.