Mortgage News
Mansfield BS adds remortgage options to its shared ownership scheme
Mansfield Building Society has added remortgage and staircasing options, available through specialist brokers, to its shared ownership scheme.
The society has also extended the geographical coverage and broker distribution for its house purchase products. The range includes a two-year fixed rate and a two-year discounted rate mortgage, both available up to 95% of the borrower’s share and 75% of the property value.
The range is available to all brokers for properties in England and Wales, excluding homes within the M25.
A two-year fixed rate product and two-year discounted rate product available for house purchase, remortgage and staircasing will be available through specialist shared ownership brokers with the same loan-to-value limits and geographical criteria.
In late December, the government announced an expansion of its shared ownership scheme to allow an additional 175,000 aspiring homeowners to join the initiative.
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