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The Mansfield launches 4.25% five-year fix

by: Mortgage Solutions
  • 08/08/2016
  • 0
The Mansfield launches 4.25% five-year fix
Mansfield Building Society has launched a five-year fixed rate mortgage at 4.25% with no completion fee on loans up to 95% loan-to-value (LTV).

The latest launch includes house purchase products up to 95% LTV with remortgages also available on mortgages up to 90% LTV.

The mutual has also introduced a range of two and three-year products with completion fees starting from £300. All products come with a free basic valuation and free legal fees are available for those remortgaging.

In summary, the new products include:

• five-year fixed rate at 4.25% up to 95% LTV (house purchase only)
• three-year discounted rate at 3.49% variable up to 95% LTV (house purchase only)
• two-year fixed rate at 2.89% up to 90% LTV
• two-year discounted rate at 2.69% variable at 80-90% LTV
• two-year discounted rate at 2.15% variable up to 80% LTV

National development manager, Steve Walton, said the move is a bid to strengthen its offering for high LTV borrowers, especially first-time buyers.

“Brokers have told us that they appreciate our common sense approach to underwriting and our flexible lending criteria,” said Walton. “They also tell us that our service is pretty good too. So, if we’re right, our exciting new products should be extremely well received and we’re expecting demand to be high.

“This is another step towards offering a product range that, when combined with our pragmatic approach, can make a real difference for brokers and their clients.”

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