New purchase mortgage to 95% LTV and remortgage to 90% LTV from The Mansfield
08 October 2014
The Mansfield Building Society has announced the launch of two additions to its mortgage range, as it targets high Loan to Value (LTV) mortgages with the benefit of its individual underwriting service.
The new 2 Year Discounted Rate house purchase product up to 95% LTV offers minimal fees and a free valuation, leading to it being given a 5 star rating by Moneyfacts. Features include:
- 4.05% initial pay rate (1.54% below SVR)
- £199 application fee and no completion fee
- Free valuation
The 2 Year Discounted Rate remortgage only product up to 90% LTV offers:
- 2.99% initial pay rate (2.60% below SVR)
- £199 application fee, £800 completion fee
- Free valuation and free legal fees
According to Stuart Bryce, Business Development Manager at The Mansfield, the Society has been quick to respond to demand and sees higher LTV products as a sector of the market where it can add value.
He said, “These products meet the needs of many borrowers, whether buying or remortgaging, who are looking for a mortgage which requires a smaller deposit. We feel that The Mansfield has built a reputation as a fair and responsible lender because we assess each case on its merits and don’t use automated credit scoring systems. Advisers and their clients can benefit from competitively priced products and a more even-handed approach to individual circumstances with The Mansfield.”
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