The Mansfield returns to 95% LTV residential lending
14 May 2021
Mansfield Building Society has increased its product offering above 80% with three new fixed rates, including a 95% house purchase product for both first time buyers AND home movers.
Along with 2 year and 3 year house purchase products up to 90%, the new products all come with a free basic valuation, to help keep costs down, and are available across England, Wales and Scotland, subject to postcode restrictions in Scotland.
Head of Mortgage Sales, Andy Alvarez, said that he expected demand to be high because product options for borrowers at a higher LTV remain limited and because of the Society’s flexible approach to mortgages:
“We’re pleased to be offering more availability in the high loan to value space as brokers and their clients will appreciate how our real-world, common sense assessment on a case-by-case basis can be applied with attractive product features.
Brokers will be able to utilise flexible features such as gifted deposits, guarantors and Joint Borrower Sole Proprietor lending for their clients.
It’s so important that lenders enable borrowers with more complex needs to benefit from these higher LTV products.”
