Mansfield Building Society has launched two new residential mortgages – a fixed rate and a discounted rate.
The building society said it had raised its lending targets for 2015 and was aiming to increase completion figures by 25 per cent on 2014.
Key Features:
2.35 per cent fixed rate for two years
• Over 80 per cent to 85 per cent loan-to-value
• Free basic valuation
• Maximum loan size £300,000
• £199 application fee and £800 completion fee
3.85 per cent discounted rate for two years (1.74 per cent off standard variable rate)
• Over 85 per cent LTV and up to 95 per cent LTV
• Valuation fee refunded up to £400
• Maximum loan £200,000
• £199 application fee and £300 completion fee
Adviser View
Mike Richards, director of London-based Mortgage Concepts Associates, said: “The offerings are competitive and at up to 95 per cent LTV will pick up a lot of business among both first-time buyers and second-time buyers, if that is what it is going for. The rates are also good and fees are low so they represent good offerings.”
