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Lender says...

Mansfield Building Society has launched two new fixed rate mortgage products designed solely for the intermediary market in both England and Wales.

The first is a two-year fixed rate at 6.25 per cent available up to 75 per cent loan-to-value.

The product has an arrangement fee of £999 and the maximum loan size available is £200,000. There are early repayment charges of 2 per cent within the fixed rate period.

There is also a three-year discounted rate offering a 0.5 discount off the society's standard variable rate of 7.19 per cent. It is available for remortgages only up to 75 per cent LTV. There is an early repayment charge of 3 per cent within the fixed rate period.

With the two-year fixed rate the basic valuation fee will be refunded on completion up to a maximum of £400.

Adviser says...

Melanie Bien, director of London-based advisers Savills Private Finance, said: "It is welcome to get some intermediary-only products after months of dual-pricing from lenders.

"The maximum loan size on the fixed rate is low however so it will only be suitable for those borrowing a relatively small amount."

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