The Mansfield Building Society has relaunched its buy-to-let mortgage range into the intermediary market.
Products now available to intermediaries across England and Wales include:
Purchase only:
- 2.65% discounted rate for two years (2.94% below SVR)
- Free basic valuation
- Application fee £199 and completion fee £999
Remortgage only:
- 2.65% discounted rate for two years (2.94% below SVR)
- Free basic valuation and free legal fees
- Application fee £199 and completion fee £1,300
Purchase or Remortgage:
- 3.49% fixed rate for two years
- Basic valuation fee payable by applicant(s)
- Application fee £199 and completion fee £999
- 3.69% discounted rate for three years (1.90% below SVR)
- Basic valuation fee payable by applicant(s)
- Application fee £199 and completion fee £800
The Society wrote £34 million of mortgage completions in the first half of the year against £22 million written in the same period 12 months prior. This has helped the Mansfield achieve a 4% growth in its net mortgage assets at the half year.
Stuart Bryce, business development manager at the Mansfield Building Society, said: “With tax relief being reduced following the Chancellor’s Budget this year and buy-to-let a source of supplementary retirement income for some, the buy-to-let sector needs lenders like The Mansfield to offer alternative solutions.
“We feel we have the expertise and specialist knowledge built up over the years to help brokers with their buy-to-let enquiries for both purchase and remortgage.”
