Mansfield relaunches remortgages with capital raising and debt consolidation to 90% LTV
04 May 2022
Mansfield Building Society has relaunched capital raising and debt consolidation remortgages up to 90% LTV in response to a surge in activity as customers seek to beat off interest rate rises.
Lending is available on the Society’s standard residential range, on any products available for remortgage, up to 90% LTV with a maximum loan size of £400k and there are no restrictions on the proportion of the loan amount being used for these purposes. Capital raising for business purposes is also available up to 80% LTV on the Society’s Versatility range.
With house prices continuing to soar and rising energy costs hitting affordability, borrowers are increasingly looking for ways to manage their monthly outgoings by consolidating their debts. They are also looking to release funds for a number of reasons, including supporting loved ones with a major purchase or to get on to the housing ladder.
Tom Denman-Molloy, Intermediary Sales Manager for the Society, said the added criteria at higher LTVs would be a welcome addition for intermediaries, giving borrowers flexible options:
“With the rising costs of living at a time of further increases in house prices, intermediaries are in need of a range of solutions to help their clients borrow in the most effective way possible. This range of products introduces a new solution to them.
We want to make a real difference to people’s lives and whilst the past couple of years have proven uncertain for many, by seeing the people beyond the profile we can not only enable borrowers to achieve their dreams and manage their costs, we can help brokers grow their businesses too.”
