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Mansfield BS launches into Scottish BTL market

Shekina Tuahene
Written By:
Posted:
July 18, 2024
Updated:
July 18, 2024

Mansfield Building Society has announced its launch into the Scottish buy-to-let (BTL) market.

The mutual will introduce its existing business BTL, consumer BTL and regulated family BTL products to borrowers in Scotland. 

There will be some postcode restrictions for the Scottish islands. 

Mansfield Building Society offers loan sizes between £50,000 and £1m on its BTL range, up to 75% loan to value (LTV). 

The mutual will include expat BTL as part of its proposition in Scotland, but not its special purchase vehicle (SPV) limited company BTL or holiday let lending.

Mansfield Building Society recently amended its expat BTL criteria to reduce the rental income requirement.

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Portfolio landlords with up to 10 BTL mortgages or properties with other lenders will also be considered.

The launch follows Mansfield Building Society’s recent changes to its criteria, which now include flats in properties of up to 10 storeys. 

Tom Denman-Molloy (pictured), intermediary sales manager at Mansfield Building Society, said: “Mansfield’s launch into the Scottish buy-to-let market enables us to expand our reach and offering to include Scottish landlords who now have access to our flexible and personal lending solutions. 

“Whether it’s our incredibly popular family buy-to-let lending or supporting portfolio landlords with affordability through top slicing, we’re looking to add an extra dimension to buy to let in Scotland.”