The Mansfield refreshes shared ownership range
27 October 2014
The Mansfield Building Society has revamped its range of shared ownership products to meet increasing demand and to offer more choice.
With rising house prices making it difficult for people to get on the housing ladder in certain areas of the UK, shared ownership is becoming an important option for customers. The three new products are: -
A two year discounted product up to 90% of the share being purchased
- 3.99% initial rate (1.6% discount from SVR of 5.59%)
- Valuation fee refunded on completion up to £400
- £199 application fee
- No completion fee
- Up to 75% of the property value
A two year discounted product up to 95% of the share being purchased
- 4.49% initial rate (1.1% discount from SVR of 5.59%)
- Valuation fee refunded up to £400
- £199 application fee
- No completion fee
- Up to 60% of the property value
A two year fixed rate product up to 90% of the share being purchased
- 4.99 fixed for first two years (then to SVR 5.59% variable)
- Valuation fee refunded up to £400
- £199 application fee
- No completion fee
- Up to 75% of the property value
According to Mike Taylor, Product & Marketing Manager at The Mansfield, the new range reflects the Society’s growing reputation in meeting the needs of niche sectors.
He said, “We have put a lot of work into shared ownership, and demand is growing as a result of our individual underwriting service. In response, we have introduced more variety through our new discounted rate products and have ensured the new products are available on a two year term in light of the feedback we’ve received. With a refunded valuation and no completion fee, our products are supporting this sector by offering access to competitive funding options.”
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